Litecoin/Yen Market Overview

• LTCJPY surged from 14,600 to 15,373 Yen on strong buying in late-night hours.
• Key support tested at 14,600, with a failed bearish reversal at that level.
• Volatility expanded significantly during the last 6 hours of the 24-hour period.
• Price closed above its 20-period MA, indicating bullish momentum in the short term.
• RSI edged into overbought territory but remained below 70, suggesting no immediate reversal.

Litecoin/Yen (LTCJPY) opened at 14,760 Yen on 2025-10-31 16:00 ET and surged to a 24-hour high of 15,373 Yen before closing at 15,178 Yen at 12:00 ET on 2025-11-01. The pair traded between 14,600 and 15,373 Yen, with a total volume of 2,857.5 LTC and a notional turnover of approximately ¥43.3 million.

Over the past 24 hours, LTCJPY demonstrated a clear bullish bias after breaking key support at 14,600 and forming a bullish reversal pattern as buying pressure increased sharply in the early hours of 2025-11-01. Price remains above its 20-period moving average and is showing signs of consolidation following a sharp rally. While the 50-period MA lags behind, it appears to be catching up as price action suggests continued strength.

Bollinger Bands widened significantly during the last 6 hours, reflecting heightened volatility. Price has moved above the upper band briefly, signaling a possible overextension in the short term, though it has since retracted. RSI climbed to 65–68, suggesting strong momentum without immediate overbought conditions. MACD lines remain positive and trending upward, indicating sustained bullish momentum. However, divergence between price and MACD should be monitored for signs of exhaustion.

Fibonacci retracement levels at 14,600 (61.8%) and 14,760 (38.2%) were tested and broken as part of the upward move. The 61.8% level acted as a critical support, which was rejected and then reversed in favor of the bulls, reinforcing the strength of the current rally. Over the next 24 hours, a continuation above 15,178 could lead to a test of the 15,373 high, while a pullback to the 14,600–14,760 range may offer a low-risk entry point for further longs.

The 15-minute chart shows a sequence of bullish candles forming from 2025-11-01 07:00 ET onwards, including a strong bullish breakout at 15,010 Yen. A notable “Bullish Engulfing” pattern emerged at 15,250 Yen, although this signal was not available in the external indicator due to a server-side error.

Backtest Hypothesis

The backtest for the “Bullish Engulfing” pattern is critical in assessing the potential profitability of this candlestick signal within LTCJPY’s recent behavior. A “Bullish Engulfing” pattern typically forms after a downtrend, where a large bullish candle engulfs the previous bearish candle. This formation was observed in the 15-minute data at around 15,250 Yen and could have served as an entry signal for a long trade.

The inability to fetch the external Bullish Engulfing signal (error code 500) suggests a mismatch in query syntax, exchange-specific ticker requirements, or an unsupported crypto/FX pair on the current endpoint. To proceed, we have a few options:

1. Retry with adjusted query — Test alternate ticker formats such as “LTC/JPY,” “LTCJPY=X,” or include exchange-specific parameters to target platforms like bitFlyer or Coinbase.
2. Use user-provided signal dates — If you have a list of Bullish Engulfing occurrences, we can backtest LTCJPY’s performance at those exact timestamps.
3. Run local pattern scan — Apply a manually coded Bullish Engulfing detection to the provided OHLC dataset, which is feasible and could be implemented immediately.

A successful backtest would validate the pattern’s utility in LTCJPY’s fast-moving 15-minute timeframe, potentially revealing a high-probability trade setup. A failed test may indicate the need for tighter filters or additional indicators to confirm the pattern.