Market Overview for Bitcoin/Eurite (BTCEURI) – 24-Hour Summary (2025-09-18)

• Price surged from $97,800 to $100,070 amid strong volume and momentum
• Bullish engulfing and bullish reversals appear in late-day price action
• RSI suggests overbought conditions while Bollinger Bands show widening volatility
• Turnover spiked at $99,500–$100,000 as price broke recent highs
• Key support near $99,000 and resistance at $100,070 remain critical to monitor

The 24-hour period for Bitcoin/Eurite (BTCEURI) opened at $97,800 (12:00 ET − 1) and closed at $99,930 (12:00 ET), with a high of $100,070 and a low of $96,941. Total volume for the period was 14.62 BTC, translating to a notional turnover of $1,458,408. Price surged toward the upper end of the range, driven by late-day buying momentum and a clear breakout above key resistance levels.

Structure & Formations

Price action featured a strong bearish reversal at $97,134 followed by a powerful rebound, forming a bullish engulfing pattern on the $97,574–$98,108 range. A doji formed at $98,370–$98,451, signaling indecision. Key support levels include $99,000 and $98,600, with resistance at $100,070 and $99,700. The price appears to consolidate near these levels, hinting at potential breakouts or reversals.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are aligned bullish, with the 20-line above the 50-line since mid-day. The daily chart shows the 50-period line rising above the 200-period, reinforcing a positive medium-term bias. Price remains above both 15-minute and daily MA structures, indicating continued bullish momentum.

MACD & RSI

The MACD showed a strong positive divergence in the late hours of the period, aligning with a breakout above $100,000. The RSI crossed into overbought territory (>70) as the price surged past $99,500 and $100,000, suggesting a potential pullback or consolidation. However, the strength of the move indicates the market may remain bullish in the short term.

Bollinger Bands

Bollinger Bands widened significantly as price surged toward the upper band, indicating rising volatility and strong conviction in the bullish move. Price closed near the upper band at $99,930, a sign that momentum is still intact. A retest of the lower band at ~$99,000 could offer a buying opportunity if the trend continues.

Volume & Turnover

Volume and turnover spiked during the $99,500–$100,070 rally, with a key bar at $100,070 showing a volume of 0.121 BTC. This is the highest 15-minute volume during the period and confirms the significance of the breakout. Turnover during this bar was $12,154, compared to a 24-hour average of $35,148.

Fibonacci Retracements

Applying Fibonacci to the recent swing from $96,941 to $100,070, the 61.8% retracement level is at $98,721 and the 38.2% level at $99,467. The price closed near the 61.8% level at $99,930, suggesting it may test the 78.6% retracement at $99,146 before finding support or continuing higher.

Backtest Hypothesis

A backtest strategy could target entries on a break of the $100,070 high with a stop just below $99,500. The RSI divergence and strong volume on this break suggest a high-probability setup. A 20-period MA crossover could be used to confirm the breakout and manage risk. Initial targets could be set at $100,700 and $101,500, with a risk-reward ratio of ~1:1.5. This aligns well with the observed momentum and volume dynamics.