Market Overview for Bitcoin/Eurite (BTCEURI) – 2025-09-21

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• Bitcoin/Eurite fell 0.32% over the last 24 hours, closing at 98,405.02 EUR after a bearish reversal on key support levels.
• Volatility expanded as the asset dropped below 98,500, breaking key Bollinger Band and Fibonacci levels.
• RSI dipped to 30, indicating oversold conditions, though volume failed to confirm a strong bounce.
• Price rejected at 98,700–98,750 cluster twice, showing bearish bias and potential for further downside.
• A consolidation phase is expected as volume has sharply declined after late-night sell-offs.

At 12:00 ET on 2025-09-21, Bitcoin/Eurite (BTCEURI) opened at 98,405.02 EUR, having traded as high as 98,970.38 and as low as 98,309.49 in the previous 24 hours. The asset closed at 98,405.02 EUR, down from its previous day’s opening level. The total trading volume for the 24-hour period was 1.758 BTC, with a notional turnover of approximately €173,792.70.

Structure & Formations

The 15-minute chart revealed a bearish reversal pattern after multiple failed tests at the 98,700–98,750 EUR range. A large bearish engulfing pattern appeared at 18:00–18:15 ET, followed by a continuation of downward momentum into early morning. A morning recovery attempt from 02:00–02:30 ET ended with a bearish candle at 98,408.39, signaling a breakdown in short-term support. A key support zone now forms at 98,300–98,500, with a 61.8% Fibonacci retracement at 98,465.62 EUR currently acting as a pivot.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bearish, with the price firmly below both. The 50-period MA is at ~98,700, acting as a resistance. On the daily chart, the 50-period MA is at 98,650, the 100-period at 98,750, and the 200-period at 98,850. The price has now closed below all three, suggesting further bearish momentum could persist in the near term.

MACD & RSI

The 15-minute MACD is in negative territory, with a bearish crossover occurring after 18:00 ET. RSI has dipped below 30, indicating oversold conditions, though the divergence in volume suggests that a bounce might not be immediate. Momentum appears to be waning as price continues to drift lower without significant follow-through.

Bollinger Bands & Volatility

Volatility has increased, with Bollinger Bands widening from ~98,700 to ~98,400 as the price dropped. The close at 98,405.02 sits near the lower band, suggesting a potential bounce could be in play. However, the lack of volume during the bounce suggests the move may not be convincing.

Volume & Turnover

Volume spiked during the early sell-off but has since declined significantly, with the last 48 hours showing a concentration of large-volume drops in the 18:00–02:00 ET window. Notional turnover peaked at ~€11,165.10 (during the 00:30–01:00 ET window) before tapering off. The divergence between price and volume suggests a potential exhaustion in the bearish move.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart from the 98,970.38 high to the 98,431.28 low include 98,700 (38.2%), 98,620 (50%), and 98,520 (61.8%). The 61.8% level is currently near 98,465.62, where the price has found some resistance. On the daily chart, the 61.8% retracement from the recent swing high is near 98,370, which may offer some near-term support.

Backtest Hypothesis

A potential backtesting strategy could focus on a Fibonacci-based bounce trade from the 61.8% level (~98,465) and a short-biased trade from the breakdown of 98,500. Using a 20-period EMA as a dynamic stop-loss, a long position could be entered with a take-profit at 98,600 and a stop below 98,400. A short trade could target 98,300, with a stop above 98,600. The recent RSI divergence and low volume may suggest a high-probability scenario for a consolidation or continuation of the bearish trend.