BOOK OF MEME/Tether (BOMEUSDT) Market Overview

• Price surged from $0.001675 to $0.001789 before consolidating near $0.001743.
• RSI hit overbought levels mid-day before retracing; MACD signaled bullish momentum.
• Volatility expanded during the early session, with Bollinger Bands widening.
• Volume spiked around $0.001750 to $0.001785, but cooling off in the final hours.
• A bullish engulfing pattern formed at key resistance, but follow-through faded.

The BOOK OF MEME/Tether (BOMEUSDT) pair opened at $0.001675 on 2025-10-04 12:00 ET and closed at $0.001743 as of 12:00 ET on 2025-10-05. The 24-hour high reached $0.001791, while the low was $0.001675. The total traded volume was approximately 613,538,643.0 units, with notional turnover (amount) of 516.7 Tether.

The price experienced a strong bullish thrust from $0.001675 to a peak at $0.001791, forming a key bullish engulfing pattern near $0.001750–$0.001785. Resistance levels were identified at $0.001750 and $0.001775, with support at $0.001740 and $0.001720. A long-legged doji appeared near the peak, indicating indecision, while a bullish flag pattern formed during consolidation. A key breakout above $0.001775 may trigger further gains.

The 20-period and 50-period moving averages on the 15-minute chart crossed positively during the early session, confirming the bullish trend. The MACD histogram expanded into positive territory, reinforcing momentum, while RSI briefly topped at 78 before retracing, suggesting short-term overbought conditions. Bollinger Bands widened significantly during the initial push and narrowed as the price consolidated. Price remains above the 20-period MA, but the 50-period MA is catching up, signaling a potential retest of the $0.001740 support.

Fibonacci retracement levels show 38.2% (around $0.001759) and 61.8% (around $0.001736) acting as critical levels during retracement moves. A pullback to $0.001736 may test the strength of the bullish trend before a potential retest of $0.001775.

The total volume was unusually high during the $0.001750–$0.001785 range, indicating accumulation. However, the volume during the consolidation phase was significantly lower, suggesting a possible pause in momentum. Notional turnover (amount) confirmed the initial push but declined during the final hours, indicating a potential exhaustion of bullish pressure. A divergence between volume and price during the final hour may suggest the need for confirmation before any further bullish moves.

Backtest Hypothesis
Given the observed bullish engulfing pattern and a strong RSI divergence, a potential backtest strategy could involve a long entry at a retest of the $0.001740 support level, with a stop loss below the $0.001735–$0.001736 zone and a target aligned with the 38.2% Fibonacci level at $0.001759. A time-based trailing stop could be activated after the price clears $0.001765 to lock in profits. This strategy would aim to capitalize on a continuation of the bullish trend while managing risk through defined exits and stops. Historical data would be required to validate the success rate of such a pattern-based approach.