Market Overview for Bitcoin/Argentine Peso (BTCARS) on 2025-10-27

• Bitcoin/Argentine Peso (BTCARS) declined sharply from 177.6M to 166.9M in 24 hours, with a low of 162.5M observed.
• Price formed a bearish engulfing pattern on 2025-10-26 18:30 and a strong breakdown from a 177.6M resistance level.
• High volatility and volume spikes were seen early in the session before a consolidation phase post 00:30 ET.
• RSI and MACD both turned bearish after mid-session, confirming a momentum shift to the downside.
• Bollinger Bands expanded sharply during the sell-off, while Fibonacci retracement levels confirmed key psychological levels at 165M and 160M.

The 24-hour session for Bitcoin/Argentine Peso (BTCARS) opened at 177.6M, reached a high of 177.6M, and closed at 166.9M, with a low of 162.5M. Total volume traded was 1.79 BTC, while notional turnover amounted to 28.7B ARS. The session featured a sharp sell-off, with price dropping nearly 6% during the first 6 hours.

Structure and formations reveal a bearish breakout from a prior range bound between 177M and 172M, with a breakdown to 168M followed by a second wave to 162.5M. A key bearish engulfing pattern formed at 175.7M on 2025-10-26 18:30, suggesting a reversal in sentiment. A strong support level was tested at 165M, followed by a temporary bounce. A significant resistance remains at 177.6M.

Moving averages on the 15-minute chart show price closing below both the 20 and 50-period MA, confirming bearish momentum. On the daily chart, price remains below the 50, 100, and 200-day MA, reinforcing a longer-term downtrend. The 50/200 MA crossover could trigger further bearish bias if price fails to retest 170M.

MACD turned bearish after 19:30 ET with a clear crossover into negative territory, and RSI dropped from overbought (61) to oversold (39) by the close, signaling potential short-term exhaustion on the downside. Bollinger Bands expanded significantly during the sell-off phase, with price briefly breaking below the lower band at 162.5M. A retest of the lower band could either confirm or invalidate this level as a meaningful support.

Fibonacci retracement levels applied to the 15-minute swing from 177.6M to 162.5M show the 61.8% level at 167.3M, which was briefly tested before a rebound. On the daily chart, the 61.8% retracement from the 180M peak to 159M is now acting as a critical support zone. A break below 165M could bring the 160M psychological level into play.

Backtest Hypothesis
The recent breakdown below key Fibonacci and moving average levels suggests a potential continuation pattern. A backtest strategy could be constructed using the 200-day SMA as a dynamic support level. If price closes below this level and confirms a bearish crossover on the 50/200 MA, it may trigger a sell signal. For a more refined approach, using the 61.8% Fibonacci retracement as a stop-loss threshold can help manage risk in a downtrend scenario. Confirming this strategy would require a historical dataset from 2022-01-01 to 2025-10-27 with price interactions against these indicators.