Market Overview: Heima/Bitcoin (HEIBTC) 24-Hour Summary

Summary
• Price drifted down amid low volume and declining momentum.
• Key support tested near 2.01e-06, while resistance held at 2.03e-06.
• Low turnover suggests limited conviction in current price action.

At 12:00 ET on 2025-11-06, Heima/Bitcoin (HEIBTC) opened at 2.01e-06 and closed at 2.02e-06 following a 24-hour consolidation from a high of 2.09e-06 to a low of 1.99e-06. Total volume for the period was 44,086.5 and turnover amounted to 89.06. Price action reflects a bearish bias, with a Bearish Engulfing pattern visible near 2.05e-06 and a Doji forming near key support, suggesting indecision.

Structure & Formations

A Bearish Engulfing candle emerged at 19:30 ET, confirming a short-term top. The pattern was followed by a 0.10% decline in the next hour, aligning with bearish expectations. Support at 2.01e-06 was tested and held, but failed to attract follow-through buying. A key resistance cluster remains around 2.03e-06, where price repeatedly stalled before drifting lower. The formation of a Doji at 02:30 ET suggests a potential turning point or consolidation phase.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, signaling a bearish crossover. The 50-period MA now sits near 2.03e-06, providing a dynamic resistance line. On the daily timeframe, the 50-period MA at 2.03e-06 and the 200-period MA at 2.05e-06 indicate a moderate bearish bias, with price currently below both long-term averages.

MACD & RSI

The MACD line crossed below the signal line in the early morning, confirming bearish momentum. RSI dropped to 49, reflecting a neutral to weak condition, with no signs of overbought levels. Momentum has been steadily declining, with the MACD histogram showing a bearish expansion.

Bollinger Bands

Price remained within a contracting Bollinger Band channel, with volatility at its lowest level in the past week. The narrow band suggests a potential breakout is imminent, though direction remains uncertain. The 20-period Bollinger Band sits at 2.03e-06 to 2.06e-06, with price hovering near the lower band, indicating oversold potential but limited follow-through.

Volume & Turnover

Volume spiked at 19:30 ET with a large 23,217.5-volume candle, followed by a sharp decline in activity. The low turnover of 89.06 suggests limited conviction in the downward move. A divergence between volume and price is visible in the late evening, where price dropped without significant volume, hinting at potential exhaustion.

Fibonacci Retracements

Applying Fibonacci to the recent swing from 2.09e-06 to 1.99e-06, the 61.8% level at 2.01e-06 has become a critical support. A break below would target the 50% retracement at 2.04e-06, though volume remains weak to confirm such a move.

Backtest Hypothesis
To evaluate a “sell-on-bearish-engulfing, hold 24 h” strategy on the HEIBTC pair from 1 Jan 2022 to today, we will need to:1. Detect every Bearish Engulfing candlestick pattern on HEIBTC during 2022-01-01 → 2025-11-05.2. Create execution signals: • Open (enter a SHORT position) at the next session’s open after the pattern appears. • Close (cover) exactly one session (≈ 24 h) later at that day’s close. 3. Feed those open / close signals into the back-test engine and measure performance (return, hit rate, drawdown, etc.). 4. Present the results with an interactive chart.To proceed we will:A. Pull the Bearish Engulfing event list for HEIBTC via the technical-indicator data interface. B. Transform that date list into open/close signal pairs (hold period = 1 day). C. Run the strategy back-tester from 2022-01-01 to 2025-11-05 on HEIBTC, using close-to-close P&L for each 24-hour trade. D. Display the performance report in an embedded “Strategy Back-test” module.Before I launch the data retrieval, please confirm or amend these assumptions:• Entry/exit prices: use next-day open for entry, following day’s close for exit (approximating a 24 h hold). • Position type: short (i.e., profit when HEIBTC falls). • No additional risk controls (stop-loss / take-profit) unless you specify otherwise. • Benchmark: not specified—results will be absolute (we can add a benchmark later if you wish).Once you confirm, I’ll start fetching the pattern dates and run the back-test.