Market Overview for Bitcoin/Eurite (BTCEURI): Volatility and Reversal in a Range-Bound Session

• Price dipped to a 24-hour low of $94,730.83 before rebounding, forming a bullish reversal pattern around 03:30 ET.
• Volatility surged overnight, with a 5.7% range from low to high, but volume remained subdued below average.
• RSI showed oversold conditions early morning, later rebounding, but momentum appears to have stalled near 50.
• Bollinger Bands expanded sharply after 03:00 ET, reflecting heightened uncertainty before stabilizing near the mid-band.
• Turnover spiked during the 03:00–04:45 ET period, coinciding with the key low near $94,730.83.

Bitcoin/Eurite (BTCEURI) opened at $96,042.16 on 2025-09-22 at 12:00 ET, hit a high of $96,090.05, and fell to a 24-hour low of $94,730.83, closing at $95,870.0 at 12:00 ET. Total volume was 8.44 BTC, with a turnover of $789,104.78.

Structure & Formations

The 24-hour period featured a distinct bearish impulse early in the session, with a sharp decline to $94,730.83 between 03:00 and 03:30 ET. This was followed by a strong rebound, forming a bullish engulfing pattern and a double bottom at the 94,730–95,000 level. Later in the session, prices consolidated between $95,600 and $95,900, forming a tight range with no clear bias. A doji appeared at the 09:30 ET candle, suggesting indecision before the final push higher into the close.

Moving Averages

The 15-minute chart showed the price hovering just above the 50-period moving average for most of the session, with the 20-period MA slightly higher, indicating a lack of strong directional momentum. On the daily chart, the 50-period and 200-period moving averages remained in a neutral configuration, with no clear breakouts above or below either line, reinforcing the range-bound interpretation of the 24-hour period.

MACD & RSI

The MACD histogram showed a bearish divergence in the early morning hours, followed by a bullish crossover as buying pressure returned. RSI hit oversold territory (below 30) at 03:15 ET and rebounded strongly, peaking above 50 by 05:00 ET, though it failed to push into overbought territory (above 70), which may suggest a lack of strong follow-through buying.

Bollinger Bands

Bollinger Bands expanded dramatically between 03:00 and 04:30 ET, reflecting the heightened volatility of the price drop. By 05:00 ET, the bands had begun to contract again, with the price settling near the mid-band and showing signs of consolidation. This suggests a temporary pause in directional movement and a potential setup for a breakout or another reversal attempt.

Fibonacci Retracements

Applying Fibonacci retracements to the 03:00–06:00 ET swing, the price found support near the 61.8% level at $95,180 before rebounding. On the daily chart, retracement levels from the prior week’s high (not visible in the current dataset) may offer resistance near $96,500 and support near $94,000, key levels to watch for potential breakouts or retests in the next 24 hours.

Backtest Hypothesis

The described backtesting strategy focuses on identifying short-term reversals during high volatility periods by combining RSI divergence, Bollinger Band contractions, and volume confirmation. A hypothetical trade could have been triggered at 03:15 ET when RSI hit oversold territory and Bollinger Bands were at their widest. The rebound in price and volume during the 03:30–04:30 ET period would have served as a strong confirmation signal, supporting a long entry. The strategy assumes that the market is likely to reverse after a sharp move into oversold territory and shows volume confirmation, which was evident in this session.