Bitcoin/Tether Market Overview for 2025-11-05

• Bitcoin/Tether (BTCUSDT) fell 0.5% in 24 hours, hitting a low of $100,350 before recovering to $102,070.
• Volatility surged with a 1.8% range on Bollinger Bands, suggesting potential consolidation.
• On-balance volume spiked to 1,613 BTC at $102,257, but price failed to hold above it.
• RSI entered overbought territory at 68, hinting at potential pullback.
• Volume was uneven, with key resistance at $102,240 and support at $101,300.

At 12:00 ET on 2025-11-05, Bitcoin/Tether (BTCUSDT) opened at $102,244.31 and closed at $102,070.61. The 24-hour range extended from a low of $100,350 to a high of $103,798.37. Total volume reached 18,924.3 BTC, with $1,961,266,398 in notional turnover.

The price action over the past 24 hours was defined by a bearish breakdown early in the session followed by a measured recovery attempt. A large bearish candle formed at 17:15 ET, closing at $101,308.08 after a 0.9% drop from its open. This was followed by a brief bounce, which formed a bullish engulfing pattern around $101,263.57. A key resistance level appeared at $102,240, where price stalled on multiple attempts to break higher. A bearish divergence between volume and price was observed near $102,905.53 as volume declined despite price testing upper Bollinger Band levels.

Bollinger Bands expanded to 1.8% of the mid-price, indicating heightened volatility. The 20-period and 50-period moving averages on the 15-minute chart were in close proximity, signaling a potential equilibrium phase. RSI reached 68 mid-session, suggesting overbought conditions, while MACD showed a narrowing histogram, pointing to waning bullish momentum. Fibonacci retracement levels revealed 61.8% and 38.2% levels at $102,550 and $101,700, respectively, aligning with key swing levels from the early morning pullback.

The RSI and MACD indicators used in the backtest hypothesis suggest a strategy focused on overbought/oversold levels and momentum shifts. A potential entry rule could involve entering short positions when RSI crosses above 65 and MACD histogram begins to contract, especially near identified Fibonacci levels like $102,550. Exit conditions may be triggered when RSI re-enters neutral territory or MACD shows a bearish crossover. These signals appear consistent with observed price behavior over the last 24 hours, particularly the brief rally after the large bearish candle at $101,308.08.

Looking ahead, Bitcoin/Tether may find a near-term trading range between $101,300 and $102,550, with the 20-period moving average acting as a dynamic support. A break below $101,300 could trigger a deeper pullback, but volume divergence suggests this may be unlikely. Investors should remain cautious of mixed momentum signals and watch for a retest of key resistance levels.