Market Overview: PAX Gold/Bitcoin (PAXGBTC) 24-Hour Trading Activity

• PAXGBTC traded lower over 24 hours, closing at 0.03341 after opening at 0.03353.
• Key resistance emerged near 0.03391 with bearish rejection observed.
• Volatility increased in overnight trading, with high volume seen at 0.03391.
• RSI indicates oversold territory, suggesting potential for short-term bounce.
• Fibonacci levels suggest a possible bounce around 0.03347 or a retest of 0.03366.

PAXGBTC opened at 0.03353 on 2025-09-23 at 12:00 ET and traded between 0.034 and 0.03301 over the next 24 hours, ultimately closing at 0.03341 on 2025-09-24 at 12:00 ET. The pair recorded a total volume of 143.27 and a notional turnover of 4.9976 over the period. Price action shows a bearish bias after a short-lived bullish attempt in early evening hours.

The structure of the 15-minute candles highlights key resistance at 0.03391 and support at 0.03347. A bearish engulfing pattern formed on 2025-09-24 at 04:15 ET, confirming the breakdown below critical resistance. The session also features a hanging man pattern near 0.03391 and a morning star at 0.03346, suggesting possible reversals. The 50-period moving average on the 15-minute chart sits above the current price, indicating a bearish crossover.

The MACD crossed below the signal line with a bearish divergence, signaling a slowdown in bullish momentum. RSI dipped into oversold territory below 30, pointing to a potential short-term rebound, though this does not confirm a reversal. Bollinger Bands show price bouncing off the lower band multiple times, suggesting high volatility and consolidation. The bands have begun to expand, indicating a potential breakout ahead.

Volume and notional turnover surged during the 2025-09-24 04:15 ET candle as the price dropped sharply from 0.03391 to 0.03372. A divergence is visible between the price and volume, where declining price failed to produce higher volume. This suggests the bearish move may be losing steam. Notional turnover was highest in the 04:15–04:30 ET window, with a total of 20.0905 traded, confirming the strength of the bearish move.

Fibonacci retracement levels applied to the recent 15-minute swing from 0.03303 to 0.034 suggest a possible bounce at 0.03347 (38.2%) and a retest of 0.03366 (61.8%). The 0.03347 level appears to be a key short-term support, and a close above it could trigger a retest of the 0.03366 area. The 0.03366 level also coincides with a prior support level, increasing its significance.

The backtesting strategy described relies on the convergence of bearish patterns (e.g., engulfing), oversold RSI, and Fibonacci retracement levels to generate sell signals. A potential trade entry could be triggered once the price bounces off the 0.03347 level with a stop just below it. A bearish breakout from the 0.03347–0.03366 consolidation range may confirm the next move. Traders should monitor the 0.03372–0.03381 range for any bullish divergence that could suggest a reversal.