Horizen/Bitcoin Market Overview

• Price surged 23.6% on a bullish breakout above prior resistance.
• Volume spiked sharply during late ET hours, confirming strength.
• RSI and MACD showed strong positive divergence, suggesting sustained momentum.
• Bollinger Bands expanded to reflect increased volatility.
• Price tested a 61.8% Fibonacci level and broke higher with no immediate overhead resistance.

At 12:00 ET on 2025-10-12, Horizen/Bitcoin (ZENBTC) opened at 0.00011285, surged to a high of 0.00014046, and closed at 0.00011968 after a sharp late-session reversal. Total volume traded was 30,385.63 ZEN, while notional turnover reached $3,563.61 in the last 24 hours. The pair exhibited strong bullish momentum and volatility, with key resistance levels now in play.

Structure & Formations

A notable bullish breakout occurred just after 08:45 ET as ZENBTC surged above the prior high of 0.00012292 and continued climbing. A hammer candle formed at the session’s peak around 0.00014046, suggesting a pause in the upward trend. A bearish engulfing pattern emerged from 10:15 to 10:30 ET, marking the first sign of profit-taking. The price also found support at the 0.00013591–0.00013634 range, indicating a key psychological floor.

Moving Averages

On the 15-minute chart, the 20- and 50-period SMAs have been rising in tandem with the price, confirming an upward trend. The 50-period SMA is now crossing above the 20-period SMA, forming a bullish crossover. On the daily timeframe, the 50-, 100-, and 200-period SMAs are aligned in an ascending formation, with the price comfortably above the 200-day SMA for the first time in weeks.

MACD & RSI

The MACD line turned sharply positive after 07:30 ET and has maintained strong momentum, with a wide gap above the signal line. The RSI climbed above 60, reaching a high of 67 just before 09:30 ET, suggesting mild overbought conditions. However, the RSI has since pulled back to 55, with MACD continuing to show strength, indicating momentum may not yet be exhausted. A positive divergence in the RSI during the late ET pullback suggests further bullish potential.

Bollinger Bands

Bollinger Bands saw significant expansion during the breakout from 07:30 to 08:45 ET, with price reaching the upper band at 0.00014046. Since then, the bands have begun to contract, signaling a potential consolidation period. Currently, ZENBTC is trading near the middle band, with the lower band at 0.00013049, offering a potential support reference if the price retraces.

Volume & Turnover

Volume spiked dramatically during the 07:45–09:00 ET window, with 9,703.21 ZEN traded as the price broke out to new 24-hour highs. Notional turnover surged by over 300% during this time, aligning with the price action and confirming the strength of the move. A divergence was noted in the 10:00–10:30 ET window, where volume dipped while the price continued lower—suggesting short-term bearish pressure, but no major reversal at this stage.

Fibonacci Retracements

Applying Fibonacci levels to the 0.00011285–0.00014046 swing, ZENBTC found support at the 61.8% level of ~0.00012872 before surging past it. On the daily chart, the 61.8% retracement level of ~0.00013591 acted as a key support during the consolidation phase. The 38.2% level at ~0.00012253 appears to be a critical near-term resistance for any retracement.

Backtest Hypothesis

Given the strong momentum and alignment of moving averages, a short-term breakout strategy could be effective for ZENBTC in the next 24 hours. A potential setup includes entering long on a confirmed close above the 0.00013591 Fibonacci level with a stop below the 0.00013205 support and a target aligned with the 23.6% extension at ~0.00014304. This strategy leverages the current bullish momentum, confirmed by MACD and RSI strength, and the tightening Bollinger Bands, which may precede a continuation breakout.