Gas/Bitcoin (GASBTC) Market Overview for 2025-09-13

• Price edged higher after consolidating near key support, with a 15-minute bullish breakout seen at 2.93e-05.
• RSI and MACD show early momentum signs, suggesting a possible short-term rally.
• Volume spiked sharply during the 12–14 ET period, aligning with the breakout.
• Bollinger Bands tightened during the morning, followed by a sharp expansion.
• Notable divergence appears between volume and price during the 14–16 ET window.

Gas/Bitcoin (GASBTC) opened at 2.91e-05 (12:00 ET − 1) and traded within a narrow range of 2.9e-05–2.95e-05, closing at 2.94e-05 (12:00 ET). Total volume reached 9,100.4, and turnover hit 2.67. The pair showed moderate volatility and early bullish momentum in the final hours of the window.

Structure & Formations

The price remained largely within a tight range for most of the day, breaking higher only during the 12:00–14:00 ET window. A small bullish engulfing pattern appeared at 2.93e-05 around 10:45 ET, followed by a doji-like formation at 11:15 ET as momentum paused. A clear support level emerged at 2.92e-05, with the price bouncing off it multiple times. The 2.95e-05–2.97e-05 zone could act as a resistance in the near term.

Moving Averages

Using the 15-minute chart, the 20SMA and 50SMA crossed during the morning, forming a potential “bullish crossover” as price moved above both. For daily chart analysis, the 50DMA, 100DMA, and 200DMA lines were closely aligned, suggesting a low-slope trend. Price hovered above the 50DMA for most of the window, which may provide additional support.

MACD & RSI

The MACD line crossed above the signal line around 09:45 ET and remained positive for much of the window, indicating a moderate bullish momentum. RSI reached a high of 58 at 10:45 ET, showing strong short-term buying pressure. The indicator remained below the overbought threshold (70), indicating room for further upward movement.

Bollinger Bands

Volatility was low for most of the day, with the Bollinger Bands narrowing during the early hours. At 09:45 ET, a sharp breakout pushed the price above the upper band. The price remained within the bands for the rest of the period, suggesting controlled movement and no extreme volatility.

Volume & Turnover

Volume surged during the 12:00–14:00 ET period, coinciding with the breakout above key resistance levels. Turnover also increased significantly during the same period. However, after 14:00 ET, volume declined while price continued to consolidate, indicating a potential divergence that may warrant caution.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 2.92e-05 to 2.95e-05, the 38.2% (2.93e-05) and 61.8% (2.94e-05) levels coincided with key resistance points the price approached and tested. The daily Fibonacci levels (from the 2.9e-05 to 2.95e-05 swing) suggest that 2.94e-05 may act as a consolidation point before testing higher levels.

Backtest Hypothesis

Given the observed price action, a potential backtest strategy could involve entering a long position upon a confirmed bullish breakout above 2.93e-05 with a stop-loss just below 2.92e-05. A take-profit target could be placed at the 2.95e-05 resistance level. This strategy aligns with the MACD and RSI signals observed during the window and could be backtested using historical 15-minute data from the past 60 days to assess its profitability and reliability.