Market Overview for Bitcoin/Hryvnia (BTCUAH) on 2025-11-08

Summary
• Price surged from 4,436,645 to a high of 4,546,908 UAH amid a strong bullish move.
• Volatility expanded, with a 10.8% price increase within the 24-hour period.
• Notional turnover was muted, at $0.39 million, despite sharp price swings.
• The 61.8% Fibonacci retracement level at ~4,503,000 UAH appears to be a key retest level.
• Momentum remains positive on RSI, with no clear overbought conditions observed.

Opening Snapshot and Summary

Bitcoin/Hryvnia (BTCUAH) opened at 4,436,645 UAH on 2025-11-07 at 12:00 ET and surged to 4,546,908 UAH before closing at 4,481,720 UAH on 2025-11-08 at 12:00 ET. The pair recorded a total 24-hour volume of 0.041 BTC and a notional turnover of approximately $0.39 million. Price action suggests strong short-term bullish bias and potential for continuation.

Structure & Formations

The 24-hour period featured multiple bullish engulfing patterns during the afternoon and early evening hours, indicating strong buying pressure. A key resistance level emerged at 4,546,908 UAH (top of the daily high), with support around 4,481,720 UAH where a bearish candlestick closed on the final 15-minute interval. A doji formed near 4,540,000 UAH, suggesting possible consolidation. The 61.8% Fibonacci retracement from the recent low to high aligns with this doji, indicating a potential area of interest for traders.

Moving Averages and Bollinger Bands

On the 15-minute chart, the price remained above the 20- and 50-period moving averages (MA), indicating a short-term bullish trend. The 50-period MA crossed above the 20-period MA, forming a golden cross. Bollinger Bands showed a moderate expansion as the price moved higher, with the close of the 24-hour session resting near the mid-band, suggesting no extreme volatility.

MACD and RSI

The MACD line remained above the signal line for most of the period, supporting bullish momentum. RSI crossed into the 60–70 range during the late afternoon hours, indicating strong upward momentum without entering overbought territory. A slight pullback in the last 15 minutes saw RSI retreating to 58, suggesting potential for a continuation or consolidation.

Volume & Turnover

Volume surged during the afternoon and early evening, particularly between 17:30 and 19:45 ET, with a peak of 0.00405 BTC at 4,497,548 UAH. Notional turnover mirrored volume trends, with higher turnover observed during these bullish phases. Price and turnover moved in alignment, reinforcing the bullish thesis.

Backtest Hypothesis

The backtest strategy of entering a long position on a Bullish Engulfing pattern and exiting on a breakdown below $448.19 aligns with the recent price behavior. The formation of multiple engulfing patterns during the afternoon and early evening aligns with potential entry points, while the 4,481,720 UAH closing candle near a key support area suggests a possible test of the $448.19 level in the next 24 hours. Traders may consider monitoring this level as a potential trigger for the sell signal.

Forward Outlook and Risk Consideration

While the short-term trend appears bullish, a close below the 4,481,720 UAH level could trigger a retest of the 4,436,645 UAH support. Traders should remain cautious of divergences between price and volume and monitor the 4,481,720 UAH level closely for potential trend reversal signals.