Market Overview for Bitcoin/Dai (BTCDAI) – 2025-10-24

• Bitcoin/Dai surged 0.25% over 24 hours, closing near a key resistance level at 110,271.49.
• A bullish breakout attempt formed after 02:00 ET, with a strong close above 110,500.
• Volatility expanded with a 15-minute range of 10,500+ as of 04:45 ET, suggesting potential trend continuation.
• RSI crossed into overbought territory, hinting at possible near-term pullback or consolidation.
• Volume and turnover spiked in the 00:00–04:30 window, confirming strength in the upward move.

The 24-hour period for Bitcoin/Dai (BTCDAI) began at 109,866.59 and closed at 111,234.53 at 12:00 ET, with an intraday high of 111,966.24 and a low of 109,257.78. Total volume traded over 24 hours was 3.78 BTC, and notional turnover was approximately $421,000 (based on average price). Price action displayed a strong bullish bias, particularly from 00:00–04:45 ET, where a series of higher highs and higher lows emerged. The move above 110,271.49 at 00:15 ET marked a breakout of prior resistance, now acting as a support level.

The formation of multiple bullish patterns, including a Bullish Engulfing at 16:00 ET and a Harami at 22:30 ET, suggests buying pressure at key levels. Price tested the 110,500 psychological threshold twice, with the second test confirming strength as it closed above the level. A potential Bullish Flag pattern formed between 04:00 and 06:45 ET, which was resolved to the upside. Notably, the price remains above the 20-period EMA on the 15-minute chart, indicating continued momentum.

A closer look at technical indicators reveals strong bullish momentum. The 20-period EMA and 50-period EMA on the 15-minute chart are in a bullish crossover, while the 100-period and 200-period EMAs on the daily chart remain in a long-term bullish alignment. The MACD turned positive at 00:00 ET and maintained bullish divergence until 08:00 ET, with the signal line confirming the bullish trend. The RSI reached overbought levels (above 70) by 04:45 ET, hinting at potential near-term consolidation or a pullback. However, divergence between RSI and price was not observed, suggesting continued conviction in the upward move.

Bollinger Bands showed a moderate widening during the breakout phase, with price staying above the upper band for over three hours. This expansion suggests increased volatility and potential continuation of the bullish trend. The Fibonacci Retracements from the 109,257.78 low to the 111,966.24 high show that price closed near the 61.8% level (≈111,230), a key target in many technical setups. This level may now act as a temporary resistance or consolidation area.

Backtest Hypothesis

The backtesting strategy described focuses on detecting Bullish Engulfing candlestick patterns as entry signals, with a 3-day-hold exit strategy. Given the recent Bitcoin/Dai price action, the pattern at 16:00 ET fits the criteria for a potential buy signal. However, the backtesting requires a valid historical price series for BTCDAI, which our current data provider does not fully recognize under the ticker “BTCDAI.” To proceed, you may choose to either: 1) use a similar pair such as BTC-USD or BTCUSDT, or 2) provide an alternative or custom OHLCV dataset for BTCDAI. Once we have a validated dataset, we can compute the frequency of the Bullish Engulfing pattern, test its performance from 2022–2025, and provide a statistical summary of returns, risk-adjusted metrics, and visual equity curve.