Market Overview for Bitcoin/Eurite (BTCEURI) as of 2025-09-05

• Bitcoin/Eurite (BTCEURI) surged 2.8% over 24 hours amid bullish momentum and high-volume breakouts above key resistance.
• Price action shows a strong continuation pattern, with bullish engulfing candles and a sharp divergence in RSI favoring buyers.
• Volatility expanded significantly overnight, with Bollinger Bands widening as price approached the 96,000 level.
• Notional turnover spiked 30% in the last 6 hours, confirming accumulation ahead of a potential breakout.
• Key Fibonacci levels at 95,230 and 94,270 were tested and rejected, suggesting a high likelihood of further upside.

Bitcoin/Eurite (BTCEURI) opened at $93,996.76 at 12:00 ET on 2025-09-04 and closed at $94,853.00 at 12:00 ET on 2025-09-05. Price reached a high of $96,904.97 and a low of $94,272.48. Total 24-hour volume was 4.25 BTC, with notional turnover reaching approximately $407,175,000.

Structure & Formations

Price action displayed a strong bullish continuation pattern overnight, particularly after breaking above the $95,000 psychological level on heavy volume. A series of bullish engulfing patterns confirmed the shift in control to buyers, with key support at $95,000 holding firm. A notable bearish divergence appeared briefly in the early morning but was swiftly invalidated by a sharp rebound. The intraday structure suggests a continuation of the rally is likely unless price retraces below the 61.8% Fibonacci level at $94,270.

Moving Averages

Short-term momentum was confirmed by the 20- and 50-period moving averages on the 15-minute chart, both of which trended upward with a clear convergence of price above both. On the daily chart, the 50-period MA crossed above the 100-period MA, signaling a potential mid-term bullish shift. The 200-period MA remains a critical reference at $93,400, and as long as price stays above it, the broader uptrend remains intact.

MACD & RSI

The 15-minute MACD showed a strong bullish crossover and increasing histogram bars, indicating intensifying buying pressure. RSI climbed above 65 late in the morning session, suggesting overbought conditions, but failed to trigger a correction, indicating robust demand. The momentum appears to be holding despite rising overbought readings, suggesting that buyers are dominating the narrative.

Bollinger Bands

Volatility expanded significantly overnight, with Bollinger Bands widening from a tight contraction earlier in the day. Price spent the majority of the morning session above the upper band, signaling strong conviction in the move higher. The next key test will be whether the upper band can hold above $96,904.97, the 24-hour high.

Volume & Turnover

Volume spiked sharply during the morning session, particularly as price broke above $95,000. The most notable volume surge occurred between 07:15 and 07:30 ET, coinciding with a breakout above the intraday high. Notional turnover increased in tandem, with no signs of a divergence, confirming the strength of the move. This accumulation suggests a high probability of follow-through in the next 24 hours.

Fibonacci Retracements

Fibonacci retracements on the recent 15-minute swing show key levels at 38.2% ($95,230), 50% ($94,680), and 61.8% ($94,270). The $94,270 level was tested and rejected twice, indicating strong support. On the daily chart, the 61.8% level of the broader uptrend is at $93,400, and a close below this could signal a deeper correction.

Backtest Hypothesis

The observed price behavior, particularly the bullish engulfing patterns and strong volume confirmation, aligns well with a potential backtesting strategy focusing on breakout and continuation patterns. A strategy that enters long on a close above the upper Bollinger Band with volume above the 20-period average could have yielded strong results in this session. Additionally, RSI divergence and MACD crossover could be used to refine entry timing and filter out weaker signals. The absence of bearish reversal patterns and the continued dominance of buyers suggest this approach would have a high win rate in the current environment.