Market Overview for VulcanForged/Bitcoin (PYRBTC) — 24-Hour Analysis as of 2025-10-07

• Price tested key resistance at 8.12e-06 before retracing to 7.85e-06, forming bearish reversal patterns.
• High volatility seen in the 5-hour window ending at 05:30 ET, with a 15.5% swing from peak to trough.
• Volume spiked during the 05:30–06:15 ET window but failed to confirm bullish breaks above 8.11e-06.
• RSI reached 58 during the high, suggesting momentum remains neutral; no overbought or oversold signals.
• Bollinger Bands showed a contraction before the 5:30 ET breakout, indicating potential for a continuation move.

The pair opened at 7.99e-06 on 2025-10-06 at 16:00 ET, reaching a high of 8.15e-06 and a low of 7.85e-06 before closing at 7.89e-06 at 16:00 ET on 2025-10-07. Total volume during the 24-hour period was 9,760.54, with a notional turnover of 79.94 BTC-equivalent.

The price action showed a key bearish shift after reaching 8.12e-06, with a series of rejection candles at that level. A large bearish candle closed the 5:30–6:15 ET window, dropping 1.2% after a 15.5% upward move. This indicates a potential exhaustion of short-term bullish momentum and may set up a test of the 7.85e-06 level. The 8.12e-06 level appears to act as a critical resistance with strong bearish sentiment behind it.

On the technical indicators front, the 20-period and 50-period moving averages on the 15-minute chart showed a tightening crossover as the market moved from a bullish to bearish bias. RSI remained in the neutral range, with a low of 32 and a high of 58 during the day. MACD crossed into negative territory during the 5:30 ET hour, confirming the bearish turn. Bollinger Bands showed a contraction before the breakout at 5:30 ET, followed by an expansion that suggests increased volatility is likely in the near term.

The price retraced to 7.85e-06, which aligns with the 61.8% Fibonacci level from the 8.12e-06 high. Volume spiked during the 5:30 ET window, reaching 637.107 units, but failed to confirm any bullish breaks. This suggests a potential consolidation phase ahead. If support at 7.85e-06 holds, a possible bounce toward 7.95e-06 could follow, but a break below could extend the decline toward the 7.7e-06 level.

The backtesting strategy described in the input relies on the 50-period and 200-period moving average crossover on the daily chart, combined with RSI divergence and volume confirmation. During the 24-hour period, PYRBTC approached but did not cross the 50-period MA, which currently sits above the 200-period MA in a bearish configuration. This “death cross” signal, though not confirmed in a single day, suggests a long-term bearish bias. If the price continues to retest the 7.85e-06 level with increasing volume and a bullish RSI divergence forms, the strategy could signal a potential entry. Traders should monitor the 8.12e-06 level for a possible breakout confirmation or rejection.