Market Overview for Bitcoin/Yen (BTCJPY) – 24-Hour Summary as of 2025-09-20

• BTCJPY opened at ¥17,166,600 and closed at ¥17,203,366, forming a bullish trend with a 24-hour high of ¥17,217,765.
• Price broke above a prior 15-minute resistance level near ¥17,143,341, confirming bullish momentum.
• Volume surged in the final 4 hours, particularly after 06:00 ET, with increased buying pressure.
• RSI edged into overbought territory while MACD showed positive divergence, hinting at possible consolidation.
• Volatility expanded during the session as price moved ~1.3% higher, with Bollinger Bands widening.

The Bitcoin/Yen (BTCJPY) pair opened at ¥17,166,600 at 12:00 ET–1 and closed at ¥17,203,366 by 12:00 ET, reaching a high of ¥17,217,765 and a low of ¥17,074,240. Total volume over the 24-hour window was 17.786589 BTC, with a notional turnover of ¥29,714,764,073. The price has shown a consistent upward bias, particularly in the latter half of the session.

Structure and formations suggest that ¥17,143,341 served as a key support level earlier in the session, which was later turned into a resistance as price moved higher. A bullish engulfing pattern emerged around 16:00 ET, followed by a strong move above ¥17,160,000. A doji near ¥17,116,509 signaled indecision earlier, but the price rebounded with increasing volume and momentum.

Moving averages on the 15-minute chart show that the price stayed above both the 20-period and 50-period SMAs for the last 4 hours, confirming short-term bullish bias. The 50-period SMA is currently at ¥17,191,652, while the 20-period is slightly ahead at ¥17,198,144. On the daily chart, the 50-period SMA is at ¥17,130,000, and the 200-period SMA at ¥17,050,000, placing the current close well above both, suggesting strength in the longer term.

MACD remains in positive territory with a bullish crossover forming after 06:00 ET, indicating growing momentum. RSI has climbed into overbought territory (~65–70), but divergence between price and RSI remains limited, suggesting potential for consolidation or a pullback before the next leg up. Bollinger Bands have widened significantly over the last 6 hours, reflecting increased volatility. Price currently resides near the upper band, signaling a potential for profit-taking or short-term correction.

Volume and turnover spiked between 06:00 ET and 10:00 ET, aligning with the price’s move above ¥17,160,000. Turnover in this period was ¥14.4 billion, or ~48% of the total 24-hour notional value. The positive correlation between volume and price action confirms strength in the rally. No significant divergence was observed between price and volume, suggesting the move is likely genuine.

Fibonacci retracements on the recent 15-minute move from ¥17,074,240 to ¥17,217,765 show that the 61.8% level is at ¥17,195,000, which the price is currently testing. On the daily chart, retracements from the recent low to high suggest the 61.8% level is near ¥17,220,000, a potential near-term resistance. Price may find support at the 38.2% level of ¥17,180,000 in the event of a pullback.

Backtest Hypothesis
A backtesting strategy could be built using the observed 15-minute bullish engulfing pattern followed by volume confirmation as an entry trigger. A long position could be initiated on a close above ¥17,160,000 with a stop-loss placed below ¥17,130,000, targeting the 61.8% Fibonacci level at ¥17,195,000. This strategy would align with the MACD and RSI signals and would require monitoring of volatility expansion via Bollinger Bands to avoid whipsaws during consolidation.