Market Overview for Bitcoin/Argentine Peso (BTCARS)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 16, 2026 10:44 am ET1min read
BTC
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Aime RobotAime Summary

- BTCARS dropped 1.6% to 144,682,142 amid bearish engulfing patterns and key support tests at 144.5M and 143.4M.

- Early ET volume surged 30% as price hit intraday lows, with RSI entering oversold territory below 30 for extended periods.

- Technical indicators confirmed bearish bias: price closed below 20/50-period moving averages and MACD remained negative throughout the session.

- Fibonacci retracement at 144.8M and 38.2% daily level at 144.98M suggest potential near-term resistance if buyers re-enter the market.

Summary
• Price declined from 147,057,096 to 144,682,142 on strong bearish momentum.
• Volatility spiked with a 1.17% range and price tested key support levels.
• Volume surged in early morning ET, indicating heightened market participation.
• RSI indicates oversold conditions, suggesting potential for near-term bounce.
• A bearish engulfing pattern emerged near the session’s peak, reinforcing downside risk.

Bitcoin/Argentine Peso (BTCARS) opened at 147,057,096 at 12:00 ET – 1 and closed at 144,682,142 by 12:00 ET, with a high of 147,057,096 and a low of 142,812,468. Total volume traded was 0.846 BTC and notional turnover reached 119,341,923.38 Argentine Pesos.

Structure & Formations


Price action showed a bearish bias throughout the session, with a strong breakdown from initial resistance around 146,400,000 to a new intraday low at 142,812,468. A bearish engulfing pattern formed near the session high, suggesting short-term continuation of the downtrend. Key support levels emerged at 144,544,086 and 143,415,026, both of which were tested and held for brief periods.

Moving Averages and Bollinger Bands


On the 5-minute chart, price closed below the 20- and 50-period moving averages, reinforcing a bearish bias.
Bollinger Bands showed a moderate expansion in the early part of the session, with price moving near the lower band for several periods, indicating increased volatility and oversold conditions.

Momentum and Overbought/Oversold Conditions


The RSI fell into oversold territory below 30 for much of the session, particularly during the late ET hours, suggesting potential for a short-term rebound or consolidation. The MACD turned negative mid-session and remained below the signal line, signaling weakening bullish momentum.

Volume and Turnover


Volume spiked in the early morning ET as price declined sharply, with notable buying interest around 144,544,086. Notional turnover increased correspondingly, suggesting conviction in the bearish move. A divergence between price and volume was observed during the late afternoon ET, which could signal a potential short-term reversal.

Fibonacci Retracements


Applying Fibonacci levels to the most recent 5-minute swing from 147,057,096 to 142,812,468, key retracement levels at 61.8% (144,803,903) and 78.6% (145,499,481) were tested, with price struggling to break above 144,803,903. On the daily chart, a 38.2% retracement level at 144,984,128 appears to be near-term resistance.

Price appears to be consolidating in a tighter range and may test the 144,544,086 support level again in the next 24 hours. While oversold conditions could trigger a minor rebound, bearish momentum remains intact. Investors should remain cautious of further downside, especially if volume confirms a breakdown below 143,415,026.