Market Overview for Bitcoin Cash/Yen (BCHJPY)

Summary
• Price declined from 86,835 to 83,719 Yen amid high-volume bearish swings.
• A large bearish engulfing pattern formed at 85,305–84,962 following a failed rally.
• Volatility expanded from 12:00 ET −1 to 05:45 ET, with key support at 83,448 tested.
• RSI entered oversold territory around 11:45 ET before a partial rebound.
• Turnover surged during the 19:45–20:00 ET sell-off, confirming bearish momentum.

24-Hour Summary

Bitcoin Cash/Yen (BCHJPY) opened at 86,124 Yen on 2025-12-17 12:00 ET and hit a high of 86,835 Yen before closing at 83,719 Yen as of 2025-12-18 12:00 ET. The 24-hour low was 83,004 Yen. Total traded volume was approximately 108.99 BTC-equivalent, with a notional turnover of ~9,354,400 Yen.

Structure & Formations

Price action formed a bearish engulfing candle on the 5-minute chart at 20:00–20:15 ET, which marked a key reversal after a brief 5% rally. A deep bearish gap was visible during the 19:45–20:00 ET window, reinforcing distribution. A potential support zone emerged near 83,448–83,004 Yen, which may act as a floor for near-term buyers.

Moving Averages

Short-term momentum shifted decisively bearish as the 20-period and 50-period moving averages on the 5-minute chart crossed lower.

On the daily chart, price closed below the 50- and 200-period moving averages, suggesting ongoing pressure from medium-term sellers.

Momentum & Volatility

Relative Strength Index (RSI) dropped to 30 during the 11:45–12:00 ET window, indicating oversold conditions, but failed to trigger a strong rebound. Bollinger Bands widened significantly during the early hours of the session, reflecting increased volatility. Price remained below the 20-period lower band until 07:00 ET, signaling a possible continuation of the decline.

Volume and Turnover

Volume spiked during the 19:45–20:00 ET sell-off, with 10.0689 BTC-equivalent traded, aligning with the sharp drop from 84,846 to 84,773 Yen. Notional turnover mirrored this increase, with the largest drop occurring alongside the highest turnover, providing confirmation of bearish sentiment.

Key Retracements

Fibonacci retracement levels of the 85,305–84,962 swing showed critical resistance at 85,212 Yen and support at 84,902 Yen. On the daily chart, 61.8% retracement of the prior rally is at 83,550 Yen, close to the 24-hour close.

Price may test 83,448–83,004 Yen in the next 24 hours for a possible bounce, but risks remain skewed to the downside with no clear reversal signs yet. Investors should monitor volume behavior and key Fib levels for potential turning points.