Market Overview for Bitcoin/Eurite (BTCEURI) – 2025-10-13

• Bitcoin/Eurite opened at $98,411.49 and closed at $98,952.0, forming a bullish 24-hour range with a high of $100,342.02 and a low of $98,290.68.
• Volume totaled ~24.12 BTC with $2.39 billion turnover, indicating moderate liquidity but uneven price-volume action.
• Key resistance emerged near $100,342 and $100,000, while support held at $99,200 and $98,300 multiple times during the session.
• Momentum indicators showed overbought readings near $100,000 and oversold levels during the $98,300 retests, suggesting range-bound consolidation.

Bitcoin/Eurite (BTCEURI) opened at $98,411.49 on 2025-10-12 at 12:00 ET and closed at $98,952.0 at 12:00 ET the following day. During the 24-hour period, the pair reached a high of $100,342.02 and a low of $98,290.68. The total volume traded amounted to approximately 24.12 BTC, with a notional turnover of $2.39 billion. Price action suggests a consolidating pattern amid fluctuating volatility and multiple attempts to break above $100,000.

Structure and formations indicate that Bitcoin/Eurite tested key resistance levels at $100,342 and $100,000, with a bearish rejection observed on the candle closing near $100,000. Support levels at $99,200 and $98,300 were retested and briefly held, particularly during a volatile evening session. The formation of a bullish engulfing pattern was noted during the early hours of 2025-10-13, suggesting potential short-term buying pressure.

The 20-period and 50-period moving averages on the 15-minute chart crossed multiple times during the session, indicating mixed momentum. On the daily timeframe, the 50-period moving average appears to be catching the price on a rebound from the $98,300 level. The 200-period MA remains below the current price, suggesting a potential for a retest of that level in the short term.

MACD diverged slightly from price during the afternoon session, with a bearish crossover observed as price hit $99,200. RSI readings suggested overbought conditions near the $100,000 level and oversold levels around $98,300. Bollinger Bands displayed a modest expansion in the morning, followed by a contraction in the late afternoon, suggesting a potential for a breakout or continuation within the range. Price remained within the band for most of the session, with a retest of the upper band on the final candle.

Volume and turnover were uneven, with spikes observed during the $100,000 level rejection and the $98,300 retest. A divergence between price and volume was noted in the morning session, raising questions about the strength of the move higher. The final candle recorded a moderate increase in volume, aligning with the retest of $98,300.

Fibonacci retracements on the 15-minute swing from $98,300 to $100,342 showed key levels at $99,325 (61.8%) and $99,786 (38.2%). On the daily chart, retracement levels from a broader move could provide context for potential breakouts or consolidations in the coming days.

The backtest hypothesis involves detecting the Bullish Engulfing pattern on the BTCEURI pair and evaluating its performance using a simple buy-and-hold strategy. The plan is to execute a buy at the close on the pattern day and exit three calendar days later. This approach will help assess the historical effectiveness of the pattern in generating consistent returns. The strategy will be applied to data starting from 2022-01-01.

The correct symbol for BTCEURI should be verified, as the system returned an error when attempting to locate it. Potential alternatives include BTCEUR (Bitstamp/Binance) or BTC-EUR (Coinbase), depending on the data source. Once the symbol is confirmed, the backtest will proceed with full performance metrics and visualizations.