Market Overview for PAX Gold/Bitcoin (PAXGBTC) – 24-Hour Analysis (2025-10-14)

• PAXGBTC traded in a tight range, with price action consolidating between 0.03575 and 0.03601 over the 24-hour period.
• A sharp selloff occurred post 18:00 ET, reducing prices from 0.03599 to 0.03555, but buying interest emerged from 20:00 ET onward.
• Turnover surged to $3.2K during the 23:45 ET session, coinciding with a sharp upward move in price.
• RSI and MACD showed no overbought or oversold signals, but the move from 0.03555 to 0.03598 indicated moderate positive momentum.
• Volatility appeared to be in a contraction phase, with prices oscillating within a narrow Bollinger Band channel.

PAX Gold/Bitcoin (PAXGBTC) opened at 0.03591 at 12:00 ET–1 and reached a high of 0.03601 by 23:00 ET before closing at 0.03596 by 12:00 ET. The 24-hour low was 0.03555. Total traded volume amounted to 90.4157 units, with a notional turnover of approximately $3.2K, reflecting modest but active trading in the late evening session.

Structure & Formations

Over the 24-hour period, PAXGBTC exhibited a bearish selloff from 18:00–20:00 ET, with a key support level forming around 0.03555. A short-term reversal was observed starting at 20:00 ET, where prices began to climb back toward the 0.03596–0.03599 range. A small bearish engulfing pattern emerged at 18:00–18:15 ET, suggesting short-term selling pressure. However, this was quickly absorbed by buying activity in the following two hours, indicating that the market may not be bearish in the near term. A doji candle appeared at 19:00–19:15 ET, signaling indecision among market participants.

Moving Averages

Using 15-minute data, the 20-period and 50-period moving averages (20/50 MA) crossed multiple times in a tight range between 0.0358 and 0.0360. The 20 MA acted as a dynamic support in the late evening hours, helping to reverse the downward momentum. The 50 MA remained slightly above the 20 MA, but both were within a narrow range. On the daily timeframe (not displayed in this dataset), the 50/100/200 MA would be crucial in identifying long-term directional bias, but with only one daily close included, such analysis is limited.

MACD & RSI

The MACD histogram displayed a moderate bullish divergence in the last four 15-minute intervals, as the price rose from 0.03559 to 0.03596 while the MACD line remained above the signal line. The RSI moved from neutral to slightly bullish in the last two hours of the 24-hour period, crossing above 50 and suggesting increased buying pressure. No overbought or oversold conditions were reached, indicating a relatively balanced market sentiment.

Bollinger Bands

The price remained within the upper and lower Bollinger Bands for most of the 24-hour period, with volatility showing signs of contraction. The most recent expansion occurred between 19:30–20:00 ET, as prices dropped and then recovered. At the close of the period, PAXGBTC was trading just below the upper Bollinger Band (0.03601), suggesting that the price could continue its upward trajectory if the upper band is tested and held.

Volume & Turnover

Trading volume and turnover were most active in the 23:45–00:00 ET session, with a large 37.8324 unit trade contributing to a significant price increase from 0.03554 to 0.03559. Volume and price action were aligned during this period, indicating strong institutional or large-scale buying interest. Earlier, the 18:00–19:00 ET session showed diverging price and volume, with price falling sharply but volume staying moderate, suggesting weak bearish conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the 18:00–20:00 ET selloff (from 0.03599 to 0.03555), key retracement levels include 38.2% at 0.03577 and 61.8% at 0.03583. The price bounced off the 61.8% level at 20:00 ET, which coincided with renewed buying interest. This level may act as a short-term support or pivot point in the next 24 hours.

Backtest Hypothesis

The dataset does not include a full historical record of PAXGBTC OHLC data needed to identify Bullish Engulfing candlestick patterns automatically. As a result, we cannot perform a full 5-day-hold backtest on such signals at this time. However, one Bullish Engulfing formation was observed at 18:30–18:45 ET, where price reversed from a low of 0.03568 to a close of 0.03569. A backtest of such signals would require access to historical data from at least 2022 to determine if this pattern has historically yielded profitable trades when followed by a 5-day holding period.