Market Overview for Bitcoin/Yen (BTCJPY) – 2025-10-23

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Thursday, Oct 23, 2025 3:06 pm ET2min read
Aime RobotAime Summary

- BTCJPY surged to ¥16.8M on strong volume, confirming breakouts above ¥16.6M and ¥16.7M resistance levels.

- RSI at 68 and positive MACD signal bullish momentum, but overbought risks rise above ¥16.85M.

- Price oscillated between ¥16.3M-16.8M with 184.8 BTC traded, supported by Fibonacci levels at ¥16.618M and ¥16.377M.

- Bollinger Band proximity and rising volatility suggest potential continuation or retest of ¥16.6M support zone.

• Price opened at ¥16,491,941 and closed at ¥16,806,666 with a high of ¥16,837,470 and low of ¥16,238,265.
• A sharp post-midnight rally pushed BTCJPY above ¥16.6M and ¥16.7M psychological levels.
• Volume and turnover spiked during the early morning, confirming breakouts above key resistance.
• RSI and MACD suggest strong near-term momentum but risk of overbought conditions.
• Volatility has increased with price oscillating between ¥16.3M and ¥16.8M in 24 hours.

Bitcoin/Yen (BTCJPY) opened at ¥16,491,941 and closed at ¥16,806,666 as of 12:00 ET. The 24-hour period saw a high of ¥16,837,470 and a low of ¥16,238,265, with total volume of 184.8 BTC and turnover of ¥30,174,385,600. The price action shows a strong reversal and breakout pattern, supported by rising volume and increased notional turnover.

Structure & Formations

The 15-minute chart reveals a bearish to bullish reversal in the early hours, marked by a bullish engulfing pattern and a strong close above ¥16,500,000. Price found key support at ¥16,300,000 and ¥16,400,000, with resistance levels forming at ¥16,700,000 and ¥16,800,000. A morning session breakout above ¥16,600,000 was confirmed with strong volume, indicating a potential continuation to ¥16,900,000.

Moving Averages

The 15-minute chart shows the price above the 20-period and 50-period moving averages, reinforcing the bullish momentum. On the daily chart, price is approaching the 200-day average but remains above the 50 and 100-day averages, suggesting a continuation of the upward trend for the short to medium term.

MACD & RSI

The MACD remains positive with a strong crossover, signaling continued upward momentum. The RSI stands at 68, indicating strong but not overbought conditions. However, a push above ¥16,850,000 could see RSI enter overbought territory, raising the risk of a short-term pullback.

Bollinger Bands

Volatility has widened, particularly during the morning rally, with price trading near the upper Bollinger Band. This suggests a potential for continued upside, but a retest of the ¥16,600,000 level could see a pullback toward the middle band or ¥16,500,000.

Volume & Turnover

Volume surged in the early hours, especially between ¥16,600,000 and ¥16,800,000, confirming the breakout. Notional turnover also rose sharply during this period. No significant divergence between price and volume is observed, supporting the bullish narrative.

Fibonacci Retracements

Applying Fibonacci levels to the ¥16,238,265 to ¥16,837,470 move, key levels include ¥16,618,368 (38.2%), ¥16,497,870 (50%), and ¥16,377,372 (61.8%). Price has already moved above ¥16,600,000, with the 61.8% level acting as a key support zone should there be a retracement.

Backtest Hypothesis

The current technical setup supports a backtesting strategy based on synthetic BTCJPY data derived from BTC/USD and USD/JPY cross rates. This synthetic approach allows for the calculation of the 14-period RSI and MACD for the BTCJPY pair, even in the absence of direct market data. A potential strategy could involve entering long positions when RSI falls below 40 (oversold) and exits when it rises above 60, using the MACD histogram to confirm momentum. This aligns with the recent price action and could offer a robust framework for testing the strength of the current bullish trend.