Market Overview for Horizen/Bitcoin (ZENBTC) on 2025-11-01

• ZENBTC rose from 0.0001149 to 0.00017623 amid growing volume and volatility.
• A bearish reversal pattern emerged near 0.00018348, suggesting potential consolidation.
• RSI surged into overbought territory, hinting at short-term profit-taking.
• Bollinger Bands widened, signaling heightened uncertainty.
• Turnover spiked during the 07:15–11:45 ET window, coinciding with key resistance breaks.

Horizen/Bitcoin (ZENBTC) opened at 0.0001149 (12:00 ET − 1) and closed at 0.00017623 (12:00 ET) after trading as high as 0.00019828 and as low as 0.00011173. The 24-hour volume totaled 82,805.71 ZEN, with a notional turnover of $14.42 million. Price action showed a sharp rise driven by volume surges and multiple resistance breaks, particularly in the 0.00016–0.00018 range.

Structure & Formations

Price moved in a clear wave pattern, forming a bullish trend channel from 0.0001149 to 0.00019828, with a key bearish engulfing candle emerging near 0.00018348. A doji at 0.00017623 signals indecision. Key support levels appear at 0.00017362, 0.00016594, and 0.00015. Resistance levels may include 0.00018348 and 0.0001884.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart suggest a bullish bias, with price consistently above the 50 SMA. Daily 50/100/200 SMA show a flattening trend, indicating reduced long-term directional pressure.

MACD & RSI

MACD showed a strong positive crossover in the early hours of the session, aligning with the price breakout. RSI peaked at 76, signaling overbought conditions and suggesting a possible pullback. However, volume confirmed the recent rally, reducing immediate bearish bias.

Bollinger Bands

Bands widened significantly during the 07:15–11:45 ET window, coinciding with the major breakouts. Price currently sits near the upper band, indicating high volatility and potential for a reversal.

Volume & Turnover

Volume surged from mid-ET morning to late afternoon, especially around the 07:15–11:45 ET window. Notional turnover also spiked in line with price, suggesting strong participation. Divergences in the 15:00–18:00 ET window indicate weaker follow-through.

Fibonacci Retracements

The 0.0001149–0.00019828 swing shows key retracement levels at 38.2% (~0.00014767) and 61.8% (~0.00015623). Price currently sits near the 78.6% level (~0.00017623), suggesting an area of potential consolidation or reversal.

Backtest Hypothesis

To rigorously backtest a resistance-breaking strategy, the following parameters could be used: 1) Use ZENBTC as the single ticker; 2) Define resistance as a close above the highest close over the past 100 bars on the 15-minute chart; 3) Enter at the next-day open and exit after 5 days or on a close below the 50-period SMA, whichever comes first; 4) Calculate returns using close prices and include a 10% stop-loss and a 20% take-profit. This strategy could provide insights into the effectiveness of breakouts in volatile altcoin pairs like ZENBTC.