Market Overview: Bitcoin/Argentine Peso (BTCARS) on 2025-12-26

Summary
• Price formed a bullish engulfing pattern near support at 134,159,902.
• Momentum improved with RSI crossing above 50 mid-day.
• Volatility expanded during late morning rally.
• Turnover spiked during 02:30–03:30 ET with strong directional volume.
• Price remains above 20-period and 50-period moving averages.

Bitcoin/Argentine Peso (BTCARS) opened at 135,877,197, hit a high of 137,756,970, and a low of 134,159,902, closing at 136,592,807 by 12:00 ET. Total 24-hour volume was 0.2879 BTC, with $3,856,909 in turnover.

Structure & Moving Averages

The price broke above a key support level at 134,159,902, forming a bullish engulfing pattern that reversed the earlier downward trend. The 20-period and 50-period moving averages on the 5-minute chart remained in bullish alignment throughout the day. On the daily chart, the price continues above the 50-period moving average, indicating medium-term bullish bias.

MACD & RSI

Momentum shifted in favor of buyers after 05:00 ET, with RSI crossing above 50 and MACD showing a positive divergence. By 10:30 ET, RSI had reached 61.8, nearing overbought territory, suggesting potential for a consolidation phase.

Bollinger Bands

Volatility expanded significantly after 02:30 ET as the price surged out of a tight band, moving to the upper band by 03:30. The price remained within the bands for most of the session, showing controlled expansion.

Volume & Turnover

Volume spiked during the 02:30–03:30 ET rally, with a large notional turnover of $1.5 million recorded. Later in the session, volume decreased, though price continued higher, suggesting strong conviction among buyers.

Fibonacci Retracements

The key 61.8% Fibonacci retracement level was at 135,273,448, which was tested and rejected before the price surged higher. The 38.2% level at 136,329,466 appears to have acted as a psychological resistance near the close.

The market may test the 137,756,970 high again in the next 24 hours if buyers continue to control momentum. However, a drop below 136,149,926 could trigger a short-term correction. Investors should remain cautious about potential overbought conditions and watch for divergences in volume.