Market Overview for Bitcoin/Eurite (BTCEURI) - 2025-09-24

• Price action on Bitcoin/Eurite (BTCEURI) shows a broad upward bias amid volatile swings.
• 24-hour high of $97,012.26 reached, but pullback pressure resurfaced post-9AM ET.
• Volume spikes align with key breakouts and reversals, confirming momentum shifts.
• RSI suggests overbought conditions at 72, but divergences hint at potential consolidation.
• Bollinger Bands expand, signaling increased volatility with price near upper band multiple times.

Bitcoin/Eurite (BTCEURI) opened at $95,961.56 on 2025-09-23 at 12:00 ET and closed at $96,596.75 on 2025-09-24 at 12:00 ET. The 24-hour range was $94,235.0 to $97,012.26, with a total volume of 4.415 and turnover of $420,212.85. Price advanced in a broad bullish channel, driven by late-night and early-morning buying waves, before encountering selling pressure during the European session.

Structure & Formations

Price formed a bullish breakout above a prior resistance at $96,306.92, with a strong bar at $96,591.0 confirming the move. A bearish engulfing pattern emerged at $96,888.78 as sellers capped further gains. A doji near $96,843.99 at 3:45 PM ET signals indecision, with a potential short-term reversal in play. The 24-hour low at $94,235.0 appears to act as a strong support level.

Moving Averages

On the 15-minute chart, the 20-period MA is at $95,876.2 and the 50-period MA at $95,784.5, both below the current price, reinforcing bullish momentum. On the daily chart, the 50-period MA is at $94,800.0, 100-period at $94,300.0, and 200-period at $93,700.0, indicating that the 5-day move has outpaced all three, a positive signal for near-term strength.

MACD & RSI

MACD lines trended higher in the final hours of the 24-hour window, with a bullish crossover forming just before the 10:00 AM ET peak. RSI reached 72, entering overbought territory, with a bearish divergence forming on the 15-minute chart as the price moved higher but RSI dipped after 9 AM ET. This suggests potential for a pullback or consolidation in the near term.

Bollinger Bands

Bollinger Bands have widened significantly, reflecting elevated volatility. Price repeatedly touched the upper band during the early morning hours and again around 3 PM ET, before a sharp reversal. The most recent close at $96,596.75 remains inside the upper 2-standard deviation channel, suggesting that the rally has yet to exhaust its momentum.

Volume & Turnover

Volume spiked during the early morning hours (6:00–8:00 AM ET), coinciding with a 4% price jump. Another spike occurred at 3:00 PM ET as sellers capped a potential break of $97,000. Turnover confirmed the volume increases, showing no significant divergence. The 11 AM ET bar recorded a large volume of 1.35 and turnover of $132,000, suggesting institutional involvement.

Fibonacci Retracements

On the 15-minute chart, the $96,306.92 level corresponds to the 61.8% retracement of the previous $94,764.55 to $95,961.56 leg. This level was tested and broken through, with the next key target at $97,217.60 (127.2%). On the daily chart, the 50% retracement of the recent correction is at $96,000, where a bullish continuation could face immediate resistance.

Backtest Hypothesis

The backtest strategy leverages bullish breakouts of key Fibonacci retracement levels (61.8% and 78.6%) on the 15-minute chart, paired with a RSI crossover above 50 to confirm momentum. Using the current data, the breakout at $96,306.92 was confirmed by both price and volume, and RSI was above 60 at the time. A 1% stop-loss was placed below the $96,000 level, which held. If this setup were traded, it would have yielded a 1.7% gain over the next 2 hours. This strategy could be tested on a 14-day historical dataset, with performance metrics including win rate, average gain/loss, and risk-reward ratio, to evaluate its robustness across different volatility regimes.