Market Overview for Peanut the Squirrel/Bitcoin (PNUTBTC)

• Price opened at $2.06e-06 and surged to $2.44e-06 before consolidating near $2.36e-06 at close.
• Volatility expanded sharply in the overnight session, with a 17% peak-to-trough swing.
• High-volume candle at 01:15 ET confirmed strength, but divergence in RSI suggests caution.
• Bollinger Bands widened significantly, indicating increased uncertainty and potential for continuation or reversal.
• Notional turnover exceeded $370,000, driven by a spike in volume during the early morning.

At 12:00 ET on 2025-09-13, Peanut the Squirrel/Bitcoin (PNUTBTC) opened at $2.06e-06, reaching a high of $2.44e-06 and a low of $2.06e-06, before closing at $2.36e-06. The 24-hour volume totaled 1,158,862.9 units, with a notional turnover of approximately $2.71 (assuming $1 = 1 BTC). Price action was driven by a sharp breakout in the overnight session, followed by a consolidation phase.

Structure & Formations

The session saw a strong bullish breakout above prior resistance at $2.28e-06, with a large bullish engulfing pattern forming between 01:15 and 01:30 ET. A key support level formed at $2.22e-06, where price found a floor twice before rallying. A doji at 04:30 ET and another at 05:30 ET signaled indecision, while a long bearish shadow at 09:45 ET hinted at distribution.

Key levels to watch in the near term include $2.36e-06 (current close), $2.44e-06 (high), and $2.22e-06 (support). A break below the latter would likely trigger a test of $2.19e-06.

Moving Averages & Indicators

On the 15-minute chart, the 20SMA crossed above the 50SMA in the overnight hours, confirming a short-term bullish bias. The 50SMA is now acting as dynamic support at $2.32e-06, while the 20SMA resides near $2.37e-06. On the daily chart, the price remains above the 50DMA but is approaching the 200DMA at $2.28e-06, which could offer resistance or reentry for longs.

MACD turned positive at the start of the breakout and remained bullish, though the histogram has started to narrow, hinting at waning momentum. RSI reached overbought territory at 72 during the peak at 01:15 ET but has since corrected to 60, suggesting a potential pullback may be in order.

Volatility & Volume

Volatility, as measured by the Bollinger Band width, expanded significantly during the overnight session, with price breaking out above the upper band and spending time inside the channel again by morning. The largest single candle occurred at 01:15 ET, with $138,8114.4 in volume and a $0.05e-06 range—this was a clear confirmation candle following the breakout.

Notional turnover spiked alongside the breakout, but volume has since declined, even as price held near its highs. This divergence could signal a potential reversal or consolidation, though a retest of the $2.44e-06 high could attract new buyers.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $2.06e-06 to $2.44e-06, key retracement levels include 38.2% at $2.29e-06 and 61.8% at $2.22e-06. Price has tested the 38.2% level twice during the consolidation phase and appears to have found temporary support at the 61.8% level as well.

If the bullish trend continues, the 78.6% retracement at $2.17e-06 could be a possible target for further consolidation or a minor pullback before a resumption of the upward trend.

Backtest Hypothesis

Given the recent price action and indicator signals, a potential backtest strategy could involve entering long positions on a confirmed breakout above the 20SMA and 50SMA on the 15-minute chart, with a stop loss placed below the last major support at $2.22e-06. A profit target could be set at the 38.2% Fibonacci retracement at $2.29e-06, or alternatively, traders could take partial profits on a test of the $2.44e-06 high from earlier in the session. This approach aligns with the observed strength in volume and momentum during the breakout but also respects the cautionary signals from RSI divergence and the doji patterns.