Market Overview for Bitcoin Cash/Tether (BCHUSDT) as of 2025-10-12

• Bitcoin Cash/Tether (BCHUSDT) fell to a 24-hour low of $486.2 before recovering to close near $523.2.
• Momentum picked up in the early morning, with a strong rally from $495.9 to $529.4.
• Volatility expanded during the 24-hour period, with Bollinger Bands indicating heightened price swings.
• Volume surged in the morning (ET) during the $486.2–$539.2 move, signaling increased participation.
• RSI and MACD showed a potential shift in momentum, suggesting possible near-term consolidation.

24-Hour Price Summary

Bitcoin Cash/Tether (BCHUSDT) opened at $525.5 on October 11 at 12:00 ET, reached an intraday high of $539.2, and a low of $486.2, closing at $536.6 at 12:00 ET on October 12. The 24-hour notional volume totaled approximately 38,425.43 BCH, with a total turnover of about $19,121,885.

Structure & Formations

The price action over the 24-hour period displayed a sharp selloff beginning around 19:30 ET, with a bearish engulfing pattern emerging as price collapsed from $521.9 to $487.2. This was followed by a key reversal and consolidation around $500–$510 before a strong bullish move from $495.9 to $539.2, which concluded in a higher highs, higher lows structure. A potential bullish engulfing pattern formed in the final hour, with price rising from $522.7 to $539.2. Key support levels appear at $500.0 and $486.2, while resistance levels are at $525.8 and $535.0.

Technical Indicators

The 20-period and 50-period moving averages on the 15-minute chart both crossed below price during the selloff, but have since crossed back above as the price rebounded. The RSI, which dipped below 30 during the selloff, has now returned to overbought territory (above 65), suggesting a possible exhaustion of bullish momentum. MACD turned positive and crossed above the signal line in the morning, indicating a short-term bullish shift. The Bollinger Bands showed a significant expansion during the price swing from $486.2 to $539.2, with the close at $536.6 sitting near the upper band, suggesting overbought conditions and potential for a correction.

Volume & Turnover

Volume spiked sharply during the selloff and the subsequent recovery, with the most notable spikes occurring at $495.9–$510.3 and $522.7–$539.2. Notional turnover followed a similar pattern, peaking at over $3.3 million during the $522.7–$539.2 rally. Price and volume appear to confirm the strength of the recent rally, though a divergence may form if the price stalls without a corresponding increase in volume.

Fibonacci Retracements

Applying Fibonacci retracements to the swing low at $486.2 and the swing high at $539.2, key levels of interest for the next 24 hours are the 61.8% retrace at $519.9 and the 38.2% retrace at $529.0. On the 15-minute chart, the most recent swing high at $539.2 and swing low at $522.7 suggest that the 61.8% retrace is near $534.0 and the 38.2% at $537.0. These levels may act as potential support or resistance zones in the coming sessions.

Backtest Hypothesis

The backtesting strategy described suggests a mean-reversion approach triggered by RSI crossing below 30 and then above 50, paired with a Bollinger Band squeeze followed by expansion. During the 24-hour period, such a setup was visible at the 04:45 ET and 11:15 ET candles, where RSI dropped below 30 and then rose above 50, while the price was within a narrow Bollinger Band contraction before breaking out. A trailing stop at 1.5% could have captured the move from $495.9 to $539.2 with minimal exposure to the earlier selloff. This pattern may present a repeatable short-term opportunity, particularly during times of high volatility and strong volume confirmation.