Market Overview for Horizen/Bitcoin (ZENBTC) on 2025-11-04

Summary
• ZENBTC surged over 24 hours, closing near a 24-hour high after a sharp midday rally.
• Strong volume and turnover confirmed the upward momentum, especially post-18:00 ET.
• Price tested and retested key Fibonacci levels and 20/50 SMA support before breaking through.

Horizen/Bitcoin (ZENBTC) opened at $0.00015653 (12:00 ET − 1) and closed near $0.00018883 at 12:00 ET, hitting a high of $0.00022306 and a low of $0.00015361. Total volume reached 43,518 ZEN, with notional turnover of $8.03.

The 24-hour period featured a strong bullish reversal from midday, supported by increasing volume and aggressive buying pressure in the latter half. A sharp spike post-18:00 ET pushed the price above key Fibonacci retracements and 50-period SMA levels, indicating a potential shift in sentiment. The 20/50 SMA on the 15-minute chart acted as dynamic support, while the 61.8% Fibonacci level from the $0.00015361 low appeared to catalyze the rally.

Bollinger Bands showed a moderate expansion in the second half of the day, with price closing near the upper band, suggesting heightened volatility and bullish momentum. RSI crossed into overbought territory at the session high, but the sustained volume suggested strength rather than a potential pullback. The MACD histogram expanded positively during the rally, indicating reinforced bullish momentum.

A notable pattern emerged with a bullish engulfing candle forming around 17:30–18:00 ET, signaling a reversal from bearish to bullish bias. The price did not retrace much after the breakout, and volume remained robust, indicating a lack of near-term selling pressure.

Backtest Hypothesis
The proposed backtest strategy leverages MACD Golden Cross events on historical ZENBTC data. However, current data limitations prevent direct testing with the provided ticker. To proceed, the exact symbol format must be clarified (e.g., BINANCE:ZENBTC). Once the correct ticker is confirmed, the strategy will run from 2022-01-01 to 2025-11-04, identifying all Golden Cross events and assessing their performance with a 5-day-hold exit. Given today’s MACD strength and positive divergence, a Golden Cross is likely a strong signal for this asset.

Looking ahead, ZENBTC appears to be in a short-term bullish phase, with potential to extend gains toward the $0.000230–$0.000240 zone if volatility remains high. However, a pullback into the $0.000170–$0.000180 range may test the strength of the move, and investors should remain cautious of divergences in volume and RSI.