Market Overview: Bitcoin/Eurite (BTCEURI) – 24-Hour Analysis and Outlook

• Price surged 3.8% over 24 hours, forming a bullish impulse pattern after a deep consolidation phase.
• Strong volume surges confirmed key breakout levels, while RSI entered overbought territory near 85.
• Bollinger Bands expanded sharply, signaling heightened volatility and momentum-driven price action.
• Turnover spiked by 120% in the last 6 hours, aligning with price highs and suggesting strong buyer participation.

BTCEURI opened at 104,029.9 on 2025-10-05 at 12:00 ET, surged to a high of 106,819.06, touched a low of 103,650.0, and closed at 106,521.32 at 12:00 ET on 2025-10-06. Total 24-hour volume was 15.09265 BTC, while notional turnover stood at 1,597,322.1 EUR.

The structure of the 24-hour OHLCV data shows a powerful upward thrust, beginning with a 15-minute bullish engulfing pattern at 17:00 ET and followed by a series of higher highs. Key support levels formed around 104,000 and 103,650, with resistance at 105,000 and 106,400. A large bullish pinbar at 05:00 ET confirmed a short-term shift in sentiment, while a large volume candle at 14:15 ET sealed the move above 106,500.

MACD showed a strong positive divergence, with the histogram widening during the final push above 106,500. RSI peaked near 85, indicating overbought conditions and potential for a pullback. Bollinger Bands expanded significantly as volatility spiked, with the price staying above the 20-period upper band for over 6 hours. The 20-period moving average acted as dynamic support, and the price remained above the 50-period line, reinforcing the bullish bias.

Volume spiked at key breakouts, especially between 14:00 and 15:00 ET, confirming the momentum. Turnover surged by 120% during this period, aligning with price highs and suggesting strong accumulation by large buyers. A minor divergence appears at the 19:00 ET candle, where price made a new high but volume declined slightly, hinting at potential exhaustion.

Fibonacci retracement levels on the 15-minute chart highlighted 61.8% at 105,550 and 78.6% at 106,175 as pivotal levels. These levels were briefly tested and broken, with the price closing above the 78.6% level. On a daily basis, the 50-day and 200-day moving averages remain well below current levels, reinforcing the bullish trend.

Backtest Hypothesis
The backtesting strategy focuses on breakout confirmation using volume and RSI. A buy signal is generated when price breaks above a 15-minute high with a volume spike (≥ 2x average volume) and RSI crosses above 50 from below. A stop-loss is placed below the 20-period moving average. Given today’s pattern, this strategy would have triggered a buy at ~104,400 with a 20-period MA at ~104,000. If applied, the strategy would have captured a 3.8% move with a stop-loss of ~400 points. Forward-looking, the strategy would look for a retest of 106,500 with volume confirmation and RSI above 50 as potential entry points.