Market Overview: Immutable/Bitcoin (IMXBTC) – November 4, 2025

Summary
• Price drifted down on low volume, closing at 4.11e-06 after opening at 4.19e-06.
• Notable Bearish Engulfing and lower wick candles signaled bearish momentum.
• Volatility expanded in mid-session with a drop from 4.22e-06 to 4.01e-06, then consolidated near 4.11e-06.

Immutable/Bitcoin (IMXBTC) opened at 4.19e-06 on November 3 at 12:00 ET and traded as high as 4.24e-06 before falling to a low of 4.01e-06. The pair closed at 4.11e-06 on November 4 at 12:00 ET. The 24-hour volume totaled 140,940.93 IMX with a notional turnover of $0.582 BTC.

The price action revealed a volatile session with a broad swing from 4.24e-06 to 4.01e-06, followed by consolidation. A strong Bearish Engulfing candle on the 15-minute chart occurred after a bullish open at 4.22e-06 and a close at 4.14e-06, indicating a shift in sentiment. A Doji at 4.07e-06 also signaled indecision. Support levels were observed at 4.01e-06, 4.05e-06, and 4.09e-06, with 4.11e-06 showing initial resistance.

The 20-period moving average was at 4.12e-06 and the 50-period at 4.13e-06, suggesting a potential short-term reversal. RSI reached oversold territory at 30, hinting at a possible bounce back. MACD crossed below the signal line, reinforcing bearish momentum. Bollinger Bands showed a moderate expansion, with price lingering near the lower band at 4.01e-06.

Volume spiked in the early hours as the price declined from 4.22e-06 to 4.01e-06, then dropped off as the price stabilized. Fibonacci retracements from the 4.24e-06 to 4.01e-06 range highlighted 38.2% (4.17e-06) and 61.8% (4.06e-06) levels, which were tested in the session.

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The bearish sentiment could continue if the price fails to reclaim 4.12e-06, with a potential test of 4.05e-06. However, a rebound may be expected if RSI moves out of oversold territory and volume rises again. Investors should watch for divergence between price and volume, especially if a retest of key support levels occurs.

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Backtest Hypothesis
The Bearish Engulfing pattern, which appeared in the data, is a reliable short-term reversal signal when confirmed by volume and RSI. A backtest using the “sell at open, close after 3 days” strategy could validate the effectiveness of this pattern on the IMXBTC pair. To proceed, it would be essential to resolve the ticker symbol issue and confirm the correct identifier for the pair. Once a valid symbol is provided, a comprehensive performance report can be generated, including visualizations of returns and risk metrics.

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