Wormhole/Bitcoin Market Overview: October 3, 2025

• Price tested 9.2e-07 support and 9.9e-07 resistance, forming key consolidation after a sharp rally.
• Momentum surged with a 9.5e-07 to 9.9e-07 2-hour move, but RSI shows overbought conditions.
• Volume spiked 143000 to 144500 ET, coinciding with price breakout to new 24-hour highs.
• Bollinger Bands widened, indicating increasing volatility ahead of 150000 ET.
• Turnover diverged at 001500 ET, suggesting cautious bearish reversal potential.

Wormhole/Bitcoin (WBTC) opened at 9.3e-07 on October 2, 2025, reached a high of 9.9e-07, and closed at 9.2e-07 on October 3. The 24-hour volume totaled 54203.1 with a notional turnover of approximately 50.88 units. Price action showed strong bullish momentum in the early afternoon before consolidating near key levels.

Over the 24-hour period, WBTC formed a bullish breakout from a narrow range between 9.2e-07 and 9.5e-07, supported by increasing volume and a strong push to 9.9e-07. The formation of a bullish engulfing pattern on the 15-minute chart between 143000 and 144500 ET signaled renewed buying interest. This was followed by a short-lived push higher and subsequent consolidation, suggesting buyers may still be in control.

The 20-period and 50-period moving averages on the 15-minute chart converged around 9.4e-07 to 9.5e-07, acting as a dynamic support during the consolidation phase. RSI pushed into overbought territory at 9.9e-07, indicating potential for a short-term pullback. MACD showed a positive crossover at 143000 ET, confirming the bullish breakout, though its momentum appears to be slowing. Bollinger Bands expanded significantly during the 140000–150000 ET window, highlighting a period of heightened volatility.

Key support levels at 9.3e-07 and 9.2e-07 were tested multiple times during the session, with price failing to break below 9.2e-07 on the final attempt at 013000 ET. Resistance at 9.5e-07 and 9.8e-07 was also challenged, with volume surging during those tests. Fibonacci retracement levels at 38.2% (9.4e-07) and 61.8% (9.7e-07) were particularly relevant in defining price behavior during consolidation and breakout phases.

Backtest Hypothesis
The described strategy involves entering a long position on a bullish engulfing pattern with confirmation via a positive MACD crossover and strong volume. A stop-loss is placed below the prior low (e.g., 9.1e-07), and a take-profit target is set at 61.8% of the recent swing (9.8e-07). Based on the 15-minute chart, this setup was observed between 143000 and 144500 ET. If executed, the trade would have captured the subsequent rally to 9.9e-07. A backtest over the last 30 days would assess the win rate, average gain/loss, and risk-to-reward ratio of this pattern-based entry with volume and MACD confirmation.