Market Overview for Peanut the Squirrel/Bitcoin (PNUTBTC) – 24-Hour Summary as of 2025-10-09

• Price opened at $1.71e-06 and closed at $1.65e-06, with a low of $1.63e-06.
• A bearish trend is confirmed with volume surging to 65,207.5 and turnover hitting $111.17.
• RSI signaled overbought conditions earlier, followed by a sharp correction and oversold territory.
• Key resistance appears at $1.74e-06, with support near $1.63e-06–$1.64e-06.
• Volatility expanded significantly in late hours, with Bollinger Bands widening after a period of consolidation.

Peanut the Squirrel/Bitcoin (PNUTBTC) opened at $1.71e-06 on 2025-10-08 12:00 ET, reached a high of $1.75e-06, fell to a low of $1.63e-06, and closed at $1.65e-06 by 2025-10-09 12:00 ET. Total volume over the 24-hour period was 65,207.5, with a notional turnover of approximately $111.17. The pair exhibited a clear bearish trend, with significant volume surges and price consolidations.

Structure & Formations

The 24-hour chart reveals a descending pattern with multiple bearish formations. Notable among them is a large bearish engulfing candle at 17:30 ET (1.72e-06 to 1.74e-06), followed by a series of lower highs and lower closes. A key resistance level appears to form at $1.74e-06, with support forming near $1.63e-06–$1.64e-06 after a sharp pullback. A doji candle at 03:00 ET on the 9th suggests a temporary pause in the bearish momentum, but the trend resumed with increased selling pressure in the morning.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, confirming a bearish crossover. The daily chart shows the 50-period MA (not computed directly from this data) likely below the 100 and 200-period lines, reinforcing the downtrend. Traders should watch for price retests of the 50-period MA for potential short-term reversals or continuation signals.

MACD & RSI

The MACD turned bearish during the afternoon of the 8th, with the line dipping below the signal line and maintaining negative territory. The RSI peaked at 67–69 in early hours of the 9th, indicating overbought conditions, followed by a sharp drop to oversold territory (35–38), suggesting exhausted buyers. Momentum remains bearish, with RSI hovering in neutral to bearish territory for the last several hours.

Bollinger Bands

Volatility initially contracted from 16:00 ET on the 8th through 03:00 ET on the 9th, followed by a sharp expansion after the 03:00 ET candle. Price remained within the bands but moved closer to the lower band in the late morning of the 9th, consistent with a bearish continuation. A break below the lower band could signal increased selling pressure.

Volume & Turnover

Volume spiked significantly during key bearish moments, especially at 17:30 ET and again in the early hours of the 9th. Turnover increased in line with volume, indicating price declines were supported by strong selling pressure. No divergence between price and volume was observed, reinforcing the bearish signal. The largest single-volume candle occurred at 06:30 ET on the 9th, with 34,479.1 units traded.

Fibonacci Retracements

Applying Fibonacci levels to the major swing from $1.75e-06 to $1.63e-06, key levels include 38.2% at $1.69e-06 and 61.8% at $1.67e-06. Price briefly found a floor near the 61.8% level but failed to hold above it, confirming bearish bias. A break below the $1.63e-06 level could trigger a move toward $1.61e-06 as the next Fibonacci target.

Backtest Hypothesis

The backtest strategy focuses on short-term bearish momentum, using a 20/50 EMA crossover on the 15-minute chart as an entry signal. A stop-loss is placed at the 61.8% Fibonacci level above the entry, with a take-profit set at the 38.2% level below. Given today’s pattern, this approach would have captured the bearish trend early, with the 17:30 ET candle providing a high-probability entry. The strategy could be refined by incorporating RSI and MACD divergence for confirmation, reducing false signals during consolidation phases.