Summary
• Price action on BTCEURI shows a bearish reversal pattern after a strong bullish breakout attempt in late 24-hour session.
• RSI and MACD indicate waning momentum and a potential short-term correction is likely.
• Volatility surged mid-session but has since contracted, with volume concentrated in key price clusters.
Bitcoin/Eurite (BTCEURI) opened at $74,830.0 on December 25 at 17:00 ET, reaching a high of $75,730.0 before closing at $75,347.3 on December 26 at 12:00 ET. The 24-hour low was $73,770.02. Total volume was 2.50445, and notional turnover reached $194,405.56.
Structure & Formations
A strong bullish breakout above $74,800.0 was followed by a bearish reversal pattern at $75,533.8, suggesting temporary profit-taking pressure. A 5-minute doji at $75,347.3 indicates indecision, with potential support forming in the $75,184.85–$75,052.94 range. Resistance appears near $75,533.8 and $75,730.0, with a key 61.8% Fibonacci retracement level at $75,400.0.
Moving Averages
Price has been above the 20-period and 50-period 5-minute moving averages for most of the session, signaling short-term bullish bias. However, a cross below the 50-period line in the final hours suggests weakening bullish momentum. Daily moving averages (50/100/200) remain aligned in a neutral to bullish configuration.
MACD & RSI
The 12-hour MACD transitioned from positive to negative territory after a mid-session spike, while the RSI dropped below 50, indicating weakening bullish momentum. RSI’s failure to re-enter overbought territory above 70 suggests caution in expecting a new rally.
Bollinger Bands
Volatility expanded sharply during the $74,800.0–$75,730.0 move, with price reaching the upper band. A subsequent contraction has seen price settle near the middle band, suggesting potential consolidation or a temporary pause in directional movement.
Volume & Turnover
Volume spiked during the early morning hours as price surged from $74,030.0 to $75,452.57, confirming the bullish move. However, the final 5-minute candles showed minimal volume at the top, signaling potential divergence and caution in further upside.
Fibonacci Retracements
The 61.8% retracement level of the latest 5-minute swing sits around $75,400.0, currently acting as a minor resistance. A break below $75,052.94 could extend the correction to the 78.6% level near $74,810.0.
Looking ahead, price could consolidate around $75,300.0 for the next 24 hours before resuming a directional move, but traders should be mindful of thin volume at key levels and the risk of sudden volatility shifts.
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