Hashflow/Bitcoin (HFTBTC) Market Overview

Summary
• Price drifted lower with limited volatility on elevated volume in the early session.
• Oversold RSI suggests potential for a bounce, but bearish momentum persists.
• Key support at $0.00000040 tested during the 24-hour window.

Hashflow/Bitcoin (HFTBTC) opened at $0.00000042 at 11:00 ET on 2025-11-04 and drifted lower throughout the session, reaching a low of $0.00000040 before closing at $0.00000040 at 12:00 ET on 2025-11-05. Total volume traded over the 24-hour window amounted to 616,662.0 units, with a notional turnover of approximately $0.2466648. The pair remains in a bearish consolidation phase.

Structure & Formations

Price movement formed a series of lower highs and lower lows from the start of the session, indicating bearish control. Notable bearish patterns included a Bearish Engulfing pattern in the 18:30–19:00 ET timeframe and a Dark Cloud Cover in the 20:30–21:00 ET window. A small Doji formed at 01:45 ET, suggesting indecision and a potential near-term reversal.

Moving Averages

On the 15-minute chart, the 20- and 50-period SMAs remained below the price action, reinforcing bearish bias. On the daily chart, the 50- and 200-period SMAs appear to be converging at $0.00000041, with the price currently below both, indicating bearish alignment.

MACD & RSI

MACD remains in negative territory with bearish divergence, while the RSI has dipped below 30, indicating oversold conditions. However, RSI has not shown strong upward momentum, suggesting the bearish bias may persist. A sustained close above the 20-period EMA could signal a potential reversal.

Bollinger Bands

Price has been trading near the lower band of the Bollinger Bands, with a slight contraction in volatility observed in the latter half of the session. This may indicate a potential consolidation phase, though a break below the lower band could signal further downside pressure.

Volume & Turnover

Volume spiked during the 18:30–19:00 ET and 01:15–02:00 ET windows, coinciding with price declines. Turnover was consistent with volume, showing no material divergence. The largest single candle in terms of volume was the 18:30–19:00 ET candle, confirming bearish conviction.

Fibonacci Retracements

Applying Fibonacci levels to the 04:15–01:45 ET swing, price reached the 61.8% level at $0.00000040, aligning with the 200-period SMA. This level may act as a pivot for short-term direction.

Backtest Hypothesis

The recent Bearish Engulfing pattern at 18:30–19:00 ET aligns with a short-biased strategy, potentially confirming a continuation of the bearish trend. However, due to an internal error in retrieving historical pattern dates from the data service, the backtesting system is currently unable to execute a 1-day short backtest automatically. A user-supplied list of Bearish Engulfing dates or a retry in a few minutes may resolve the issue. Alternatively, the system could proceed with a manually estimated list of such dates for immediate testing.