Market Overview for ORDI/Bitcoin (ORDIBTC) as of 2025-11-01

• ORDI/Bitcoin (ORDIBTC) opened at 4.224e-5 and closed at 4.261e-5 after a volatile 24-hour session.
• Price fluctuated between 4.14e-5 and 4.288e-5, reflecting choppy momentum and mixed market sentiment.
• Notable volume spikes occurred during key price drops and rebounds, particularly around 19:45–20:15 ET.
• RSI oscillated between overbought and oversold levels, suggesting heightened short-term volatility.
• Bollinger Bands showed a moderate expansion in volatility, with price testing both upper and lower bounds.

ORDI/Bitcoin (ORDIBTC) opened at 4.224e-5 on 2025-10-31 at 12:00 ET and closed at 4.261e-5 at the same time the following day. The price ranged between 4.14e-5 and 4.288e-5, reflecting a volatile session. Total volume was 11,364.93, while total notional turnover amounted to approximately 4.82 BTC (based on weighted averages across 15-minute intervals).

Structure & Formations

The 15-minute chart showed several key structural features, including a bearish reversal pattern at 17:00 ET as price dropped from 4.222e-5 to 4.184e-5. A subsequent bullish engulfing pattern emerged around 19:45–20:15 ET, with a strong rebound from 4.218e-5 to 4.263e-5. A consolidation phase followed, where price hovered between 4.219e-5 and 4.261e-5, suggesting renewed buyer interest after the earlier dip.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line during the recovery phase from 20:00–21:00 ET, signaling a potential short-term bullish bias. On the daily timeframe, the price ended above the 50-period moving average but remained below the 200-period, suggesting intermediate-term uncertainty.

MACD & RSI

The MACD crossed into positive territory during the late afternoon, coinciding with the bullish engulfing pattern, while the histogram showed a moderate increase in momentum. RSI fluctuated wildly, reaching overbought levels (70+) around 03:30–04:00 ET, followed by a return to neutral territory. This suggests that the current move may lack strong continuation support unless confirmed by volume and price action.

Bollinger Bands

Price spent much of the session outside the upper and lower Bollinger Bands, indicating high volatility. A notable contraction occurred between 22:00–23:45 ET, which may have foreshadowed a breakout. The subsequent rebound into overbought territory suggests that buyers stepped in after a period of consolidation and low volatility.

Volume & Turnover

Volume spiked at key turning points, particularly during the 17:00–18:00 ET sell-off and the 19:45–20:15 ET rally. A divergence appeared in the final hour as price rose toward 4.287e-5 but volume failed to confirm the move. This could indicate waning buyer conviction or short-term profit-taking.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from 4.14e-5 to 4.288e-5, price found initial support at the 38.2% (4.214e-5) and resistance at 61.8% (4.257e-5). The 61.8% level held well, suggesting it could act as a key pivot in the near term.

Backtest Hypothesis

To validate the recent price dynamics, a backtesting strategy could be built around identifying Bullish- and Bearish-Engulfing patterns on the 15-minute chart. Given the recent sharp reversal at 19:45–20:15 ET, a strategy using these patterns with a 15-minute confirmation window might have captured the 0.65% rebound. However, due to the reported data-source error, a full backtest for the symbol “ORDIBTC” cannot be executed unless the correct ticker format is provided (e.g., ORDI-BTC, ORDI-USDT, etc.). Once confirmed, this strategy can be tested over a historical dataset to evaluate its robustness and risk-reward profile.