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Summary
• Price surged 5.75% from 93,133 to 95,957 on 24-hour 5-min data.
• Strong bullish momentum confirmed by expanding highs and increasing turnover.
• A key resistance at 96,000 showed initial consolidation pressure.
• Volume surged during 09:15–10:45 ET, aligning with price highs.
• RSI approached overbought territory, suggesting potential short-term pullback.
Bitcoin Cash/Yen (BCHJPY) opened at 93,133 on 24-hour 5-min data and closed at 95,957 after hitting a high of 97,500 and a low of 93,133. Total volume reached 147.59, with a turnover of ~24.79 million Yen.
Structure & Formations
Price surged from key support near 93,133, forming a strong bullish reversal pattern after the early morning consolidation. A strong 5-minute engulfing pattern appeared at 01:15 ET, signaling a resumption of upward momentum. Resistance at 96,000 was tested but not yet broken decisively, with a doji forming at 12:00 ET.
Moving Averages

On the 5-minute chart, the price remained above the 20- and 50-period moving averages, suggesting strong short-term bullish bias. On the daily timeframe, it remained well above the 50-, 100-, and 200-period lines, indicating a broader uptrend.
MACD & RSI
MACD turned positive and showed strong bullish divergence, with a notable crossover above the signal line during the morning surge. RSI approached 75, indicating overbought conditions, suggesting a potential short-term pullback or consolidation ahead.
Bollinger Bands
Volatility expanded significantly during the 9:15–10:45 ET window, with the price reaching the upper band at 97,500. It has since consolidated within the bands, suggesting the market is digesting the recent move.
Volume & Turnover
Volume spiked dramatically during the morning hours, especially between 09:15 and 10:45 ET, when the asset surged from 95,656 to 97,500. Turnover matched this volume increase, confirming the strength of the move. However, recent volume has moderated, suggesting possible short-term exhaustion.
Fibonacci Retracements
On the recent 5-minute swing from 93,133 to 97,500, the 61.8% retracement level lies at ~95,466, near where the price has begun to consolidate. This level could act as a key support for the near term.
The market appears to be entering a consolidation phase after a sharp upward move. While momentum remains bullish, caution is warranted as overbought conditions and thinning volume may increase the risk of a near-term correction. Investors should watch for a break of 96,000 or a close back below 95,466 as key signals for direction.
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