Market Overview for Horizen/Bitcoin (ZENBTC) as of 2025-10-06

• ZENBTC opened at 7.948e-05 and closed at 8.033e-05, with a high of 8.44e-05 and a low of 7.75e-05.
• Price moved between key support at 7.75e-05 and resistance at 8.44e-05, with a 6.1% intraday gain.
• Momentum shifted multiple times, with RSI fluctuating near overbought and oversold thresholds.
• Volatility spiked during the 20:00–22:00 ET window before stabilizing.
• Notional turnover was $412.80, driven by a sharp volume spike at 05:15 ET.

The Horizen/Bitcoin (ZENBTC) pair opened at 7.948e-05 at 12:00 ET on 2025-10-05 and closed at 8.033e-05 by 12:00 ET on 2025-10-06. The price reached a high of 8.44e-05 and a low of 7.75e-05, with total volume of 30,238.55 and notional turnover of $412.80. A notable 15-minute candle on 2025-10-06 at 05:15 ET showed an unusually high volume of 1891.31, suggesting a potential institutional or algorithmic intervention.

Structure & Formations

The 24-hour period exhibited multiple key support and resistance levels. Price found a strong support at 7.75e-05 and tested it twice, forming a bullish rebound pattern. Resistance was identified at 8.1e-05 and 8.44e-05, the latter acting as a short-term ceiling. A bullish engulfing pattern emerged around 05:15 ET, with the candle closing near the top of its range, indicating potential upward continuation. A bearish inside bar was observed at 20:00 ET but failed to break through the 7.9e-05 level, suggesting strength in the short-term base.

Moving Averages and MACD

The 15-minute chart shows the 20SMA and 50SMA crossing over multiple times, indicating choppy momentum. The 50SMA was below the 20SMA for most of the session, suggesting short-term bearishness until the 05:15 ET candle. MACD crossed above the signal line around 05:15 ET and remained positive for the remainder of the session, indicating bullish momentum. RSI hovered near 60 for much of the day, with brief excursions into overbought territory, but did not confirm a strong breakout.

Bollinger Bands and Fibonacci Retracements

Volatility was clearly expanding as the session progressed, especially in the 20:00–05:15 ET window. Price tested the upper Bollinger Band multiple times, most notably at 05:15 ET and 10:30 ET, but failed to break through. The 38.2% Fibonacci retracement level at 8.09e-05 acted as a minor resistance, while the 61.8% retracement at 7.82e-05 served as a minor support. These levels appear to have reinforced the overall range-bound nature of the move.

Volume & Turnover

Volume spiked significantly at 05:15 ET, with 1891.31 units traded, translating to a notional turnover of $151.91 for that candle alone. This was the largest single-candle trade and occurred just before the price began a sharp upward move. A divergence between price and volume occurred at 20:00 ET, where volume declined despite price testing the 7.9e-05 support. This may suggest weakening short-term bearish conviction.

Backtest Hypothesis

The backtest strategy suggests using a combination of the 20/50SMA crossover on the 15-minute chart to identify potential entries. When the 20SMA crosses above the 50SMA and MACD is in bullish territory, a long position is initiated with a stop-loss placed below the most recent Fibonacci 61.8% retracement. A trailing stop is then applied as the price moves higher, exiting the position once the 20SMA crosses below the 50SMA or the RSI hits overbought levels. This approach could potentially capture the upward thrust seen at 05:15 ET while managing risk with Fibonacci levels.