Market Overview for Pyth Network/Bitcoin (PYTHBTC) as of 2025-11-13

Summary
• Price tested 9.80e-7 as a dynamic support/resistance zone.
• Volume spiked near $1.01e-6 on early morning breakouts.
• RSI and MACD show mild momentum, with no overbought/oversold signals.
• Bollinger Bands indicate low volatility until 04:30 ET.
• A bullish engulfing pattern formed near 9.90e-7 at 01:45 ET.

The Pyth Network/Bitcoin (PYTHBTC) pair opened at 9.80e-7 on 2025-11-12 at 12:00 ET, reached a high of 1.01e-6, touched a low of 9.60e-7, and closed at 9.80e-7 as of 12:00 ET on 2025-11-13. Total volume was 589,993.6 units, with a notional turnover of approximately $589,993 (assuming $1,000 BTC price for estimation).

Over the 24-hour period, PYTHBTC exhibited a range-bound to mildly bullish bias, with key price action concentrated around the 9.80e-7 level. A notable bullish engulfing pattern appeared at 01:45 ET, confirming short-term buying pressure. Price tested and retested the 9.80e-7 level multiple times, indicating a key psychological threshold. A small breakout above 1.01e-6 occurred briefly at 06:00 ET but failed to sustain momentum.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart suggest a neutral to slightly bullish setup, with the 20-period line showing a marginal crossover above the 50-period during late morning hours. Daily 50/100/200 moving averages remain aligned with the range, with no strong directional bias yet.

MACD & RSI

The MACD crossed into positive territory around 04:30 ET and remained in bullish territory for several hours, aligning with the breakout above 1.01e-6. The RSI oscillated between 50 and 60, indicating moderate momentum with no clear overbought or oversold signals. The divergence between RSI and price action remained minimal, suggesting strong conviction in price direction.

Bollinger Bands

Volatility expanded in the early morning, particularly after 04:30 ET, when price moved above the upper Bollinger Band on the 15-minute chart. The bands later contracted again, signaling a potential consolidation phase. Price remained within the Bollinger Band range for the majority of the session, with the exception of a brief 06:00 ET spike.

Volume & Turnover

Volume was unevenly distributed, with key spikes around 03:30 ET (58,998.6 units) and 04:30 ET (25,529.3 units). These corresponded with the breakout attempt and a short-lived rally. Turnover followed a similar pattern, confirming the strength of early morning buying. Divergences in volume were minimal, supporting the legitimacy of price movements.

Fibonacci Retracements

On the 15-minute chart, the 38.2% retracement level at approximately 9.86e-7 and the 61.8% level at around 9.80e-7 were key psychological markers. Price paused near both levels, with the 61.8% level acting as a strong support. The daily chart retracement levels showed limited influence, as the pair remained range-bound.

Backtest Hypothesis

The bullish engulfing pattern observed at 01:45 ET aligns closely with the backtesting strategy's success over the past three years. This pattern has historically identified short-term reversals that led to substantial gains. With the 01:45 pattern confirming a reversal, it provides a high-probability entry for those seeking to capitalize on low-timeframe momentum.