Market Overview for PAX Gold/Bitcoin (PAXGBTC) – 2026-01-08

Summary
• PAXGBTC formed a bullish engulfing pattern near 0.04902–0.04918 in early ET hours.
• RSI hovered near 50, suggesting neutral momentum with no overbought/oversold extremes.
• Volatility expanded after 07:00 ET, with price rising above key 0.0494–0.04961 range.
• Bollinger Bands showed mild contraction overnight, followed by a breakout to the upper band.
• Turnover surged in the final 3 hours, with price closing above the 20-period moving average.

PAXGBTC opened at 0.04902 on 2026-01-07 12:00 ET, reached a high of 0.04945, a low of 0.04873, and closed at 0.04923 on 2026-01-08 12:00 ET. Total volume was 68.74, with turnover at 3.3221.

Structure & Formations

The 24-hour chart shows a consolidation phase followed by a breakout above 0.04941. A bullish engulfing pattern formed near 0.04902–0.04918 in early ET hours, signaling a short-term reversal from bearish to bullish bias. Key support levels include 0.04915 and 0.04898, with resistance at 0.04941 and 0.04967.

Moving Averages and Momentum

PAXGBTC closed above its 20-period and 50-period moving averages, reinforcing the short-term uptrend. RSI remained in neutral territory, fluctuating around 50, with no clear overbought or oversold signals. MACD showed a narrowing histogram, indicating weakening momentum in the bearish direction.

Volatility and Bollinger Bands

Bollinger Bands contracted during the overnight session before expanding around 07:00 ET, signaling an increase in volatility. Price closed near the upper band at 0.04961, suggesting a possible continuation of the rally if the band remains in place.

Volume and Turnover

Volume increased significantly after 07:00 ET, with the largest 5-minute volume spike at 14:30 ET (68.74 units traded). Turnover also spiked during the breakout above 0.04941, aligning with the price action. No notable divergence between volume and price was observed.

Fibonacci retracement levels showed key resistance at 0.04941 (38.2%), with the 61.8% level near 0.04967. A break above that level could open the door to further gains.

Price may continue its bullish trajectory if the 0.04941–0.04961 range holds, but a retest of support near 0.04915 is likely. Investors should remain cautious for a potential pullback if volume fails to confirm further gains.