Beefy/Tether Market Overview – 2025-11-01

• Beefy/Tether (BIFIUSDT) declined 24 hours by 2.1% with a bearish bias after testing key support levels.
• Price action shows a 133.7–134.7 trading range with bearish momentum intensifying in early morning hours.
• Volatility expanded in the last 12 hours, but volume remains moderate, showing no clear divergence from price.
• RSI and MACD signals suggest a potential consolidation or reversal in the near term.
• Key Fibonacci levels at 133.5 (38.2%) and 132.4 (61.8%) are critical for near-term directional clues.

15-Minute OHLC Summary (12:00 ET–1 to 12:00 ET)

Beefy/Tether (BIFIUSDT) opened at 134.1 and closed at 134.0 after a 24-hour range of 131.3–135.7. Total volume was 1,090.65, and turnover amounted to approximately 148,838.34. Price action shows a bearish slant with a failed attempt to break above 134.7 and a test of 133.7 as support.

Structure & Formations

The 24-hour candlestick pattern on BIFIUSDT shows a bearish consolidation with a key bearish engulfing pattern forming around 134.0–133.4 during the 00:00–01:15 ET window. A doji formed at 133.4, suggesting indecision after a morning rally. Key support levels identified are at 133.7, 133.3, and 132.9, with resistance at 134.3, 134.7, and 135.1. A breakdown below 133.7 could signal a deeper pullback toward 132.4–131.3.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bearish crossover, suggesting a short-term downward bias. On the daily chart, the 50/100/200-period moving averages are in a bullish alignment, indicating a potential long-term bullish bias despite the recent pullback.

MACD & RSI

The MACD line has crossed below the signal line and remains in negative territory, indicating bearish momentum. The RSI has dipped to 47, indicating neutral territory, but with downward pressure likely. The RSI may test 40–38.2 Fibonacci support before reversing. A break below 40 could indicate a short-term oversold condition.

Bollinger Bands

Bollinger Bands show moderate volatility contraction in the overnight hours, but the price has since expanded into the upper band, showing increased bearish volatility. Price has remained within the bands, suggesting a contained move for now, but a break below the lower band could signal a more significant bearish breakout.

Volume & Turnover

Volume and turnover remain moderate across the 24-hour period. A notable volume spike occurred between 07:00–08:30 ET as the price tested 134.7–135.5 resistance. However, price failed to follow through on that volume, suggesting a potential false breakout. There are no major divergences between volume and price at this point, but bearish volume dominance suggests further downside is possible.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 134.7 to 133.3, key support levels are at 133.5 (38.2%) and 132.9 (50%). For the larger daily move from 131.3 to 135.7, key retracement levels are at 134.7 (38.2%), 133.9 (50%), and 133.0 (61.8%). A retest of 133.0 could confirm bearish exhaustion or a potential bounce.

Backtest Hypothesis

A potential backtest strategy would involve a 3-day holding period triggered by a 15-minute RSI crossover below 50 and a bearish MACD crossover. Given the current RSI and MACD configuration, this strategy could be tested using locally calculated RSI values from the provided OHLCV data. The 133.7 support level could act as a stop-loss or entry point for short-term traders. If this setup is confirmed, a target range of 132.4–131.3 aligns with prior Fibonacci levels and recent price behavior.