Market Overview: Bitcoin/Zloty (BTCPLN) – 24-Hour Action

• Bitcoin/Zloty opened at 406800.0 and closed 24 hours later at 406017.0, with a high of 407307.0 and a low of 401253.0.
• A bearish 15-minute engulfing pattern occurred early in the session, followed by a volatile consolidation phase.
• RSI and MACD suggest waning momentum, with price fluctuating inside Bollinger Bands near the midline.
• Volume spiked during the sharp decline to 401253.0 but dropped afterward, signaling potential consolidation or hesitation.
• A 61.8% Fibonacci retracement at ~405000 aligns with recent support, which may act as a short-term floor.

Bitcoin/Zloty (BTCPLN) opened at 406800.0 on 2025-10-31 at 12:00 ET and closed at 406017.0 the following day at 12:00 ET. The pair hit a high of 407307.0 and a low of 401253.0 during the session. Total traded volume was 1.27 BTC, with a notional turnover of approximately 527,348,000 PLN. Price action showed a bearish shift early in the session, with a sharp 15-minute candle closing lower, followed by a retest and consolidation.

Structure and candlestick formations reveal a strong bearish engulfing pattern at the session’s start, suggesting short-term selling pressure. A doji formed later at 405006, indicating indecision. Key support levels appear at 405000 (61.8% retracement from 401253–407307) and 404000, while resistance sits at 406000 and 406304. Price has bounced off the lower Bollinger Band multiple times, suggesting that volatility is moderate to low at present.

The 20-period and 50-period moving averages on the 15-minute chart are converging, with the shorter MA below the longer, pointing to bearish momentum. MACD is in a bearish crossover, with negative bars indicating sustained selling pressure. RSI has moved into neutral territory (45–55), suggesting neither overbought nor oversold conditions, but with potential for further downward drift.

Volume spiked during the early decline to 401253, but then tailed off, which may indicate exhaustion. Notional turnover also followed a similar pattern. This divergence between price and volume could mean that the next move—up or down—will need confirmation. A break below 405000 would target 404000, while a rebound above 406000 could trigger a retest of 406304.