Market Overview for Horizen/Bitcoin (ZENBTC) – 24-Hour Summary as of 2025-09-18

• ZENBTC formed a bullish breakout above 6.477e-05, with price closing near its 24-hour high.
• Volume spiked at key resistance levels, confirming accumulation and distribution patterns.
• RSI remains in neutral territory, suggesting no immediate overbought or oversold conditions.
• Price traded within a tightening Bollinger Band range before breaking to the upside.
• Momentum appears to be building with sustained volume and orderly price progression.

At 12:00 ET–1 on 2025-09-18, Horizen/Bitcoin (ZENBTC) opened at 6.243e-05, surged to 6.514e-05, and closed at 6.435e-05 by 12:00 ET. Total volume for the 24-hour window was 4,065.56 ZEN, with a notional turnover of approximately $266.66 (based on BTC price). Price formed a consolidation pattern early in the session before launching a breakout rally in the overnight hours.

Structure and trend suggest a key support level forming around 6.402e-05, with price testing this level multiple times before bouncing. A resistance cluster emerged between 6.477e-05 and 6.495e-05, where volume surged and price consolidation occurred. A bullish engulfing pattern was observed near the opening of the session as price moved from 6.243e-05 to 6.512e-05 within a few candles, indicating short-term bullish momentum. A doji appeared at 6.514e-05, signaling potential indecision, though it was quickly followed by a continuation to the upside.

Moving averages on the 15-minute chart show that price is above the 20-EMA and 50-EMA, suggesting a short-term bullish bias. On the daily chart, ZENBTC is trading above its 50-DMA, a positive sign for near-term momentum, though it remains below the 200-DMA, indicating a longer-term bearish trend. RSI is in the 50–60 range, neutral and not signaling overbought or oversold conditions. MACD is trending upward with a positive histogram, reinforcing the bullish momentum seen in the price action.

Bollinger Bands contracted between 6.458e-05 and 6.478e-05 before expanding with the breakout. Price closed just above the upper band at 6.477e-05, suggesting increased volatility and a potential continuation of the rally. Fibonacci retracement levels drawn from the 6.243e-05 to 6.514e-05 swing suggest that key levels to watch in the next 24 hours include 6.382e-05 (38.2%), 6.449e-05 (50%), and 6.497e-05 (61.8%). Price appears to be testing the 61.8% level on a consolidation pattern.

Backtest Hypothesis
The proposed backtesting strategy involves entering a long position at the open of the candle where price closes above the 61.8% Fibonacci retracement level of a major bullish swing, with a stop-loss placed at the most recent swing low. A take-profit target is set at 1.272% extension of the same swing. Given the recent consolidation above key Fibonacci levels and the bullish breakout pattern seen today, this strategy appears to align well with the current market dynamics. If price holds above 6.477e-05, the strategy could be activated for a potential long entry, with a stop at 6.435e-05 and a target at 6.503e-05. The recent volume profile also supports such a position, with accumulation evident at the 6.477e-05–6.495e-05 cluster.