Market Overview for VulcanForged/Bitcoin (PYRBTC) – 24-Hour Summary as of 2025-10-09

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• Price action showed a bearish trend with a 24-hour low of $0.00000755.
• Volatility decreased after a sharp drop post-16:00 ET, followed by a consolidation phase.
• Volume remained low in the early hours but spiked during the 19:00–21:00 ET sell-off.
• RSI and MACD confirmed weak momentum, with prices near key Fibonacci support levels.
• The 7.63–7.65e-06 zone emerged as a potential near-term support cluster.

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Opening Summary

At 12:00 ET–1, PYRBTC opened at $0.00000785, with a high of $0.00000796 and a low of $0.00000755 over the 24-hour window. The price closed at $0.00000765 by 12:00 ET. Total volume traded was approximately 12,117.59 BTC, and notional turnover amounted to $9.42 (assuming $72,600 BTC price).

Structure & Formations

Price formed a bearish continuation pattern during the early trading hours, with a sharp decline post-19:00 ET from $0.00000796 to $0.00000765, confirming downward pressure. A series of lower highs and lower lows suggests a strong bearish bias. A doji appeared at $0.00000765–7.66e-06, signaling indecision near the 7.65e-06 level. Key support levels are identified at $0.00000765 (current close), $0.00000762, and $0.00000759, while resistance is at $0.00000777 and $0.00000784.

Moving Averages

On the 15-minute chart, the 20-period MA is bearish, crossing below the 50-period MA. This confirms a short-term downtrend. On the daily chart, price remains below the 50-, 100-, and 200-day MAs, reinforcing a broader bearish bias.

MACD & RSI

MACD shows a negative histogram with a bearish crossover, confirming weakening momentum. RSI stands at 35, indicating oversold conditions but lacking a bullish divergence. This suggests that while prices are oversold, there’s little conviction in the short-term to reverse the downward trend.

Bollinger Bands

Price has moved closer to the lower Bollinger Band, indicating a possible continuation of the downtrend. Volatility has contracted over the past 6 hours, suggesting a potential breakout or breakdown is likely in the near term.

Volume & Turnover

Volume spiked during the 19:00–21:00 ET window, confirming the bearish breakdown from the 7.85e-06 level. However, volume has subsided since 05:00 ET, indicating a possible exhaustion phase. Turnover has followed the same trend, with no signs of divergences between price and volume.

Fibonacci Retracements

Recent 15-minute swings show that the current price is near the 61.8% Fibonacci retracement level from the 7.55e-06 to 7.96e-06 move. This suggests a possible short-term consolidation or rebound. If the 7.65e-06 level breaks convincingly, it could test the 7.62e-06 (38.2%) and then the 7.59e-06 (50%) support levels.

Backtest Hypothesis

A potential short-term trading strategy could involve entering a short position on a confirmed breakdown below 7.65e-06, with a stop above 7.77e-06. A profit target could be set at 7.55e-06, aligning with the 38.2% Fibonacci retracement and recent lows. This strategy leverages RSI and MACD bearish signals and assumes continuation of the downward trend. Backtesting should evaluate the win rate and risk-reward ratio using 20- and 50-period moving averages as filters.