Bitcoin BTCUSDT Market Overview for 2025-09-05

• Bitcoin traded in a bullish consolidation pattern near $112,000, with strong volume and momentum favoring the upside.
• Price breached recent resistance levels with confirmation by higher lows and a bullish MACD crossover.
• Bollinger Bands show expanding volatility, with price near the upper band, suggesting a potential continuation of the trend.
• Turnover surged late in the session amid a large 15-minute bar on the $113,000–$113,500 range, signaling accumulation.
• RSI remains in overbought territory but shows no immediate reversal signs, indicating sustained buying interest.

Bitcoin opened at $109,457 on 2025-09-04 at 12:00 ET and closed at $111,178 at the same time on 2025-09-05, forming a bullish structure with a high of $113,384 and a low of $110,435. The 24-hour volume reached 12,461.75 BTC with a notional turnover of $1,377,346,000 (calculated using average price).

Structure & Formations

The 15-minute chart displayed a series of bullish consolidations and breakouts, particularly after 21:00 ET when price surged above key resistance near $111,500. A strong bullish engulfing pattern emerged between 00:15 and 00:30 ET as Bitcoin moved from $110,653 to $110,929, confirming a short-term reversal from earlier bearish pressure. Later in the session, a large bullish bar on the 15-minute chart at 12:45 ET (price: $113,384) acted as a breakout candle, suggesting accumulation and a potential target of $114,000–$115,000.

Moving Averages

On the 15-minute chart, Bitcoin closed above the 20-period and 50-period SMAs, with the 50 SMA acting as a strong dynamic support in the early hours. On the daily chart, the 50-period SMA is at ~$111,600, with the 200 SMA at ~$109,800, indicating that Bitcoin remains above its key long-term averages and in bullish territory.

MACD & RSI

The MACD crossed above the signal line just after 00:30 ET, confirming a short-term bullish bias, with positive momentum continuing until 13:00 ET. The RSI peaked at 78, entering overbought territory for most of the session but showed no signs of divergence, suggesting sustained buying pressure.

Bollinger Bands

Volatility increased throughout the session, with Bollinger Bands expanding significantly. By the last few hours, Bitcoin closed near the upper band (~$113,384), suggesting a potential continuation of the bullish trend. A retest of the upper band may trigger a pullback or a breakout to $114,000, depending on volume and order flow.

Volume & Turnover

Volume spiked sharply during the final 90 minutes of the session, particularly on the $112,000–$113,500 range, where the majority of the $2.2 million in turnover was observed. The large volume on the 12:45 ET bar confirmed the breakout and suggests accumulation.

Fibonacci Retracements

On the 15-minute swing from $110,435 to $113,384, Bitcoin is now at ~78.6% of the retracement, with the next Fibonacci level (88.6%) at ~$114,400. A close above this level would confirm a full continuation of the bullish trend.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions after a bullish engulfing pattern forms above the 50-period SMA, with a stop-loss placed below the previous swing low. A trailing stop could be used once the 20-period SMA turns upward, and a target could be set at the upper Bollinger Band or the next Fibonacci level. This strategy aligns well with the observed 15-minute pattern at 00:30 ET, where volume and price action confirmed a reversal.