Market Overview for Wormhole/Bitcoin (WBTC) – 2025-09-18

• Price surged to a 24-hour peak of $0.00000088 before consolidating near $0.00000086.
• Strong buying pressure observed during the 18:00–20:00 ET window.
• Volume spiked over 50,000 WBTC in key resistance tests.
• RSI approached overbought levels, suggesting potential pullback risk.
• Bollinger Band width expanded, signaling increased volatility.

Wormhole/Bitcoin (WBTC) opened at $0.00000082 at 12:00 ET-1 and reached a high of $0.00000088 during the 24-hour period, with a low of $0.00000080. The pair closed at $0.00000086 at 12:00 ET. Total volume reached 671,614 WBTC, and notional turnover exceeded $568.40, based on 15-minute OHLCV data.

Structure & Formations

The 24-hour price action displayed a strong bullish bias from 18:00 to 20:00 ET, where WBTC broke above a key horizontal resistance at $0.00000087. A bullish engulfing pattern formed around 20:00 ET, confirming the breakout. A large doji at 21:45 ET suggested indecision and may signal a short-term consolidation. Key support levels are found at $0.00000085 and $0.00000080, with a critical resistance at $0.00000090.

Moving Averages

On the 15-minute chart, price closed above the 20-EMA and 50-EMA, which currently sit at $0.000000865 and $0.000000855 respectively. On the daily chart, the 50-day, 100-day, and 200-day moving averages are aligned in a bullish configuration, supporting the continuation of the uptrend.

MACD & RSI

The MACD histogram showed a positive divergence around 18:00–20:00 ET, confirming the bullish breakout. RSI peaked at 68, approaching overbought territory. While not yet in overbought conditions, RSI suggests that a short-term pullback could be imminent. A move below the 50 RSI level would indicate weakening momentum.

Bollinger Bands

Volatility expanded throughout the session, with the Bollinger Band width widening to 3.3%. Price spent most of the session above the 20-period upper band, especially after 19:00 ET. A close below the middle band could indicate a distribution phase or short-term correction.

Volume & Turnover

Volume spiked above 50,000 WBTC during the 18:00–20:30 ET window, aligning with price highs. Notional turnover increased in tandem with volume, suggesting strong institutional or large-capacity participation. A divergence between volume and price during the 21:00–22:00 ET period could hint at profit-taking.

Fibonacci Retracements

Key Fibonacci levels based on the 18:00–20:00 ET move include 61.8% at $0.00000087 and 38.2% at $0.00000086. Price tested the 61.8% level and pulled back slightly, suggesting that the $0.00000087–0.00000090 range could be a key resistance cluster for the next 24 hours.

Backtest Hypothesis

A backtesting strategy could focus on breakout trades from the 20-EMA on the 15-minute chart, confirmed by a bullish engulfing pattern and a MACD crossover above zero. Stop-loss placement would be just below the 61.8% Fibonacci retracement at $0.00000087, with a target at $0.00000090. Given the recent volume confirmation, this setup could offer a favorable risk-to-reward profile for short-term traders.