Market Overview for Big Time/Tether (BIGTIMEUSDT) – 2025-09-22

• Price declined sharply from $0.0539 to $0.0487, with a 24-hour low at $0.0486.
• A large bearish candle around 06:15 ET marked the start of a significant downtrend.
• Volume spiked 10x to 8,145,488 at the lows, confirming distribution pressure.
• RSI hit oversold levels below 30, suggesting potential short-term bounce.
• Price remains below all key moving averages, signaling bearish bias.

Big Time/Tether (BIGTIMEUSDT) opened at $0.05368 on 2025-09-21 at 12:00 ET and closed at $0.04876 by 12:00 ET on 2025-09-22. The 24-hour range was $0.05393 (high) to $0.04864 (low). Total volume was 8,145,488, with notional turnover rising sharply in the early morning hours.

Structure and formations indicate a strong bearish bias. A large bearish engulfing pattern formed around 06:15 ET, confirming a shift in sentiment. The price has since tested key support levels at $0.0515 (61.8% Fib from the 0.05393 high), $0.0490 (50% Fib), and currently appears to be finding near-term support at $0.0486–0.0487. A doji formed near this level at 15:00 ET, hinting at a potential short-covering bounce.

The 20- and 50-period moving averages on the 15-minute chart have been bearish for the last 12 hours, with price remaining below both. On the daily chart, the 50, 100, and 200-day MAs are also bearish. This suggests a broader structural bear trend is in place. RSI bottomed at 25 during the morning selloff and has since climbed into the 35–40 range, suggesting a short-term bounce may be imminent. MACD remains in negative territory, with the histogram shrinking slightly, indicating waning bearish momentum.

Bollinger Bands have widened significantly during the selloff, with price trading near the lower band. This suggests elevated volatility and a potential short-term bounce to the middle band. However, if the 61.8% Fib level at $0.0515 is not tested and rejected, the downtrend may resume. Volume has remained elevated below $0.0520, indicating ongoing distribution. Price and volume appear to be aligned in the bearish direction.

The 38.2% Fibonacci retracement from the recent high at $0.05393 is at $0.0522, and the 61.8% level is at $0.0515. If price manages to close above $0.0520, this could trigger a retest of the $0.0525–0.0530 range, where previous resistance clustered. A failure to reclaim this territory may confirm a deeper correction toward the $0.0480 level.

Backtest Hypothesis
The described strategy involves entering long positions on a close above the 61.8% Fibonacci retracement level, with a stop-loss just below the 38.2% level and a target at the prior swing high. A short-biased setup is triggered on a close below the 38.2% level with a stop above the 61.8%. This hypothesis aligns with the observed price action and could be applied to the 15-minute and daily charts. The current test of $0.0486–0.0487 appears to be a potential short-term bottoming pattern.