Market Overview for Bitcoin/Argentine Peso (BTCARS)

Summary
• Price rose from 150,321,295 to 152,602,597 ARS, with a 24-hour high at 154,783,772 ARS.
• Momentum remained positive, with RSI near overbought levels during the session.
• Volatility expanded after 21:00 ET, as price surged past a prior resistance.

Bitcoin/Argentine Peso (BTCARS) opened at 150,321,295 ARS on 2025-11-07 at 12:00 ET, and closed at 151,012,579 ARS on 2025-11-08 at 12:00 ET. During the 24-hour period, the pair reached a high of 154,783,772 ARS and a low of 150,197,717 ARS. Total volume was 1.149 BTC, and notional turnover amounted to approximately 174,774,000,000 ARS.

Structure & Formations

The 24-hour chart shows a strong bullish bias with a clear breakout above the 152,602,597 ARS level, previously acting as a resistance. A 15-minute bullish engulfing pattern confirmed the breakout at 19:30 ET. Key support levels include 151,500,000 ARS and 150,500,000 ARS, while resistance levels are now at 154,783,772 ARS and 155,000,000 ARS.

Moving Averages

On the 15-minute chart, the 20-period moving average is bullish and rising above the 50-period line. On the daily timeframe, the 50-period MA is trending higher, crossing above the 100-period MA, signaling a stronger long-term bullish trend. The price is trading above both key moving averages, reinforcing the bullish momentum.

MACD & RSI

The MACD line shows a strong positive divergence, with the histogram expanding through the 21:00–22:30 ET timeframe. RSI reached as high as 78 during the session, suggesting near-overbought conditions. Momentum remains strong, though traders should watch for any divergence between RSI and price action to avoid false breakouts.

Bollinger Bands

Volatility expanded significantly during the breakout phase, pushing price to the upper Bollinger Band. The band width increased by over 20% compared to the previous 24 hours, indicating higher uncertainty and potential for short-term correction or continuation.

Volume & Turnover

Volume spiked during the 21:00–22:30 ET period, coinciding with the price surge to the session high. Notional turnover mirrored this, confirming the bullish move. However, volume dropped significantly after 02:45 ET, suggesting a potential exhaustion of buying momentum.

Fibonacci Retracements

On the 15-minute chart, the price found immediate support at the 61.8% Fibonacci level (151,500,000 ARS) after the breakout. On the daily chart, the 38.2% retracement level (152,000,000 ARS) acted as a key support during the consolidation phase.

Backtest Hypothesis

A potential backtesting strategy could leverage the RSI and moving averages observed in today’s action. Using a 14-period RSI with an overbought threshold of 70, a long exit or short entry could be triggered upon crossing, with a 50-period MA as a confirmation filter. A trailing stop-loss at 2% could help secure gains. Given BTCARS' strong 24-hour momentum, this strategy may yield favorable risk-reward, especially during high-volume phases like those seen in the 21:00–22:30 ET window.