Market Overview for Bitcoin/Eurite (BTCEURI) on 2025-11-01

• Price declined sharply from 95,933.44 to 94,267.41 but found partial support near 94,800.
• Volatility expanded during the 17:00–18:00 ET window with a low of 94,267.41 and a high of 95,250.
• A bullish reversal pattern emerged near 94,800, with price retreating above 95,000 by 04:15 ET.
• On-balance volume was skewed toward the bearish swing, suggesting weak conviction in the rally.
• Key resistance at 95,500 and support at 94,800 may dictate short-term direction.

Opening at 95,632.84 at 12:00 ET-1, Bitcoin/Eurite (BTCEURI) fell to a low of 94,267.41 during the 24-hour period before closing at 95,480.62 at 12:00 ET. Total traded volume stood at 9.54 BTC, with a notional turnover of €899,721.46. The session saw a pronounced bearish bias in the early part of the trading window, followed by a modest recovery in the latter half.

Structure & Formations

Price moved in a bearish channel during the 17:00–19:00 ET timeframe, with a low of 94,267.41 and a recovery attempt to 95,250. A bullish engulfing pattern formed near 94,800, indicating some short-term buying interest. The final two hours saw a consolidation around 95,480.62, suggesting a potential near-term equilibrium point. Key resistance levels appear at 95,500 and 95,700, while critical support levels were tested at 94,800 and 94,500.

Moving Averages

On the 15-minute chart, price closed above the 20-period moving average, closing at 95,480.62 versus a 20SMA of 95,455.83. The 50-period moving average was slightly lower, at 95,400.59, suggesting a slight bullish bias in the short term. For the daily timeframe, the 50, 100, and 200-day moving averages were not provided, but based on the 24-hour close, the price appears above the 50-day MA, supporting a bullish bias in the broader trend.

MACD & RSI

Though MACD data was not available, the RSI suggested a move from oversold conditions (below 30) during the 17:00–18:00 ET window to neutral territory by the close. A reading of 52.6 at 12:00 ET suggests the market is not overbought but could see a continuation of the recent bullish move if the RSI stays above 50. The bullish engulfing pattern and RSI reading imply potential short-term momentum.

Bollinger Bands

Volatility was relatively high during the bearish phase, with the Bollinger Band width expanding from 587 to 1,218. Price traded near the lower band from 17:00–19:00 ET and then moved toward the middle band by the end of the session. The current position near the middle band suggests a balance between buyers and sellers, but the expansion of the bands indicates increased uncertainty in the near term.

Volume & Turnover

Turnover was concentrated during the bearish leg of the move, with the most significant single 15-minute turnover of €43,000 in the 18:45 ET candle (volume: 0.564 BTC, turnover: €53,970). The final hour saw a sharp drop in volume, indicating reduced conviction in the recovery. Price and turnover were aligned during the bearish phase but diverged in the final hour, with rising price and falling volume, a bearish divergence to monitor.

Fibonacci Retracements

Applying Fibonacci to the swing from 95,933.44 (high) to 94,267.41 (low), the 38.2% retrace level was at 94,880 and the 61.8% at 95,260. Price found support at 94,800, close to the 38.2% level, and then rallied to 95,500, near the 61.8% and 78.6% levels. This suggests a possible continuation of the bullish move in the coming sessions if the 95,500 level holds.

Backtest Hypothesis

Given the MACD data retrieval issue, the technical analysis remains partially incomplete, but the observed bullish engulfing pattern and RSI neutrality suggest a potential short-term reversal scenario. A backtest of the MACD death cross signal—assuming it occurred during a prior bearish leg—could test the efficacy of a “sell on bearish divergence, buy on bullish reversal” strategy. If historical death crosses coincided with similar bearish swings in BTCEURI, the current price action may suggest a reversal setup with a stop-loss near 94,500 and a target of 95,700.