Wrapped Bitcoin/Bitcoin (WBTCBTC) Market Overview for October 4, 2025

• WBTCBTC consolidates between 0.9995–1.0004 after a sharp 14:45 ET spike.
• Volatility dipped midday before rebounding in late trading hours.
• RSI hovered near 50, suggesting neutral momentum without clear bias.
• On-chain volume surged after 14:45 ET, coinciding with the highest high.
• Bollinger Bands contracted midday before expanding with the post-14:45 ET breakout.

Wrapped Bitcoin/Bitcoin (WBTCBTC) opened at 0.9999 on October 3 at 12:00 ET, hit a high of 1.0011 at 14:45 ET, and closed at 1.0 at 12:00 ET on October 4. Total volume for the 24-hour period was approximately 316.57 BTC, while total turnover was around 316.29 BTC-equivalent. Price action was characterized by a late-day breakout above the 1.0003–1.0011 range.

The structure of the 24-hour candlestick data shows a bearish to neutral trend reversal from earlier bearish momentum. Notable patterns include a bullish engulfing pattern at 14:45–15:00 ET and a doji at 03:15 ET, indicating indecision after a sharp drop to 0.998. Key resistance appeared at 1.0003–1.0004, while support levels were evident at 0.9995–0.9996.

Moving averages on the 15-minute chart show the 20-period and 50-period lines closely aligned around the mid-0.9995–1.0001 range, indicating consolidation. The 50-period line crossed above the 100-period line at 16:00 ET, hinting at potential bullish bias. On the daily chart, the 50-day and 200-day lines remained relatively flat, signaling a lack of strong directional momentum.

The RSI for the 15-minute chart oscillated between 45 and 55 for most of the session, indicating balanced momentum, but surged to 60 at 14:45 ET with the breakout. MACD showed a narrowing histogram around 13:00–14:00 ET, followed by a positive divergence as price rose after 14:45 ET. Bollinger Bands contracted between 00:00–03:00 ET, then expanded with the breakout, suggesting a potential continuation of the upward move. Volume confirmed the late-day rally, especially between 14:30–16:00 ET.

Fibonacci retracement levels on the 15-minute chart from the 0.9989 low to the 1.0011 high show key levels at 0.9997 (38.2%), 1.0000 (50%), and 1.0003 (61.8%). The price broke above 1.0003 at 14:45 ET, potentially targeting the 1.0011 level for further extension. Daily Fibonacci levels from the previous week’s swing also showed 1.0003 as a critical psychological barrier, which was successfully tested and broken.

Looking ahead, the pair may test the 1.0011 level, with a break above likely to attract more bullish participation. However, a retest of 1.0003–1.0001 could result in a consolidation phase. A sharp drop below 0.9995 may signal renewed bearish pressure. Investors should remain cautious, as volatility remains elevated and momentum could reverse quickly in a low-liquidity environment.

Backtest Hypothesis
The described backtesting strategy involves entering a long position on WBTCBTC when price closes above both the 50-period and 20-period moving averages on the 15-minute chart, confirmed by a bullish engulfing candle and RSI above 55. A stop-loss is placed at the most recent swing low, and a take-profit is set at the next Fibonacci retracement level above the entry point. Given the recent 14:45 ET breakout, the conditions align with this strategy, making it a viable short-term approach in the next 24–48 hours. The strategy relies on the continuation of momentum and assumes no major external macro events affecting the BTC market.