Market Overview for PAX Gold/Bitcoin (PAXGBTC)

Summary
• PAXGBTC consolidates near 0.04936 with bearish momentum and weak volume.
• A key support at 0.04919 is intact but bears continue to dominate after a sharp drop.
• Volatility expanded midday with a 0.04955 high before reversing lower, forming bearish reversal hints.
• RSI under 30 and low turnover suggest oversold conditions but lack of bullish follow-through.
• Fibonacci levels at 0.04942 and 0.04919 appear to cap and support price movement.

PAX Gold/Bitcoin (PAXGBTC) opened at 0.0494 on 2025-12-20 12:00 ET and closed at 0.04942 on 2025-12-21 12:00 ET, with a high of 0.04971 and a low of 0.04892. Total volume was 88.4054 and turnover reached 4.3173. The 24-hour session saw a bearish bias, with a notable intraday high of 0.04971 followed by a pullback that tested key support levels.

Structure & Formations

Price action formed a broad bearish pattern, including a morning drop, a modest rally toward 0.04971, and a retracement below 0.0495. A key 5-min bearish engulfing pattern occurred at 09:00 ET, as well as a bearish reversal formation at the high of 0.04971. The 0.04919 level appears to have acted as a strong support, preventing a further breakdown.

Moving Averages

On the 5-minute chart, the 20-period MA is bearish, crossing below the 50-period MA in a death cross formation. On the daily chart, the 50-period MA has fallen below the 200-period MA, reinforcing the bearish tone. The price is currently trading slightly above the 50-period MA, which may offer short-term resistance.

MACD & RSI

The MACD line turned negative in the latter half of the session and remains in bearish territory, with the signal line crossing it to the downside. The RSI dropped below 30 in the final 6 hours, indicating oversold conditions. However, the lack of a rebound suggests weak buying interest and continued bearish sentiment.

Bollinger Bands

Volatility expanded in the early hours of 2025-12-21, with a midday high at 0.04971 that touched the upper Bollinger Band. The price later retracted sharply and closed near the lower band, indicating increased volatility and potential for a rebound or further sell-off. A contraction in band width was observed during the overnight hours.

Volume & Turnover

Volume spiked during the midday rally but fell off sharply afterward, indicating weak follow-through. The highest volume occurred at 09:00 ET during the 0.04912 to 0.04904 decline. Turnover aligned with price drops rather than rises, suggesting a bearish bias. Price and turnover diverged in the last 3 hours, with no significant volume accompanying the 0.04942 close.

Fibonacci Retracements

On the 5-minute chart, the 0.04942 level corresponds to the 38.2% retracement of the morning drop, acting as a short-term support. On the daily chart, the 61.8% retracement level of the recent high is at 0.0494, which aligns with the current price. A break below 0.04919 would suggest a move toward the 0.04892 level and potentially test the 50% retracement at 0.0493.

The market appears to be in a consolidation phase after a sharp pullback, with bears in control but no immediate breakdown. A key test will be whether bulls can defend 0.04936 and push the price above 0.0494. Investors should remain cautious as volatility remains elevated and the RSI remains near oversold levels. A further breakdown below 0.04919 could reignite bearish momentum.