Market Overview for Peanut the Squirrel/Bitcoin (PNUTBTC)

• Price declined from 1.74e-06 to 1.69e-06 in 24 hours.
• Key support at 1.70e-06 tested multiple times with bearish continuation.
• Volume was concentrated in late-night and early-morning hours.
• RSI showed weak momentum, suggesting a potential oversold condition.
• Bollinger Bands contracted during low-volume periods, hinting at consolidation.

The 24-hour trading period for Peanut the Squirrel/Bitcoin (PNUTBTC) saw the pair open at 1.72e-06 on 2025-10-07 at 12:00 ET, peak at 1.74e-06, and close at 1.69e-06 on 2025-10-08 at 12:00 ET. Total trading volume reached 96,808.5, while turnover remained subdued due to thin liquidity and limited price movement. The session featured several consolidation phases and bearish breakdowns below key levels.

Structure & Formations

The 15-minute candlestick pattern showed a bearish breakdown below 1.71e-06 in the early morning hours of 2025-10-08, followed by a retest and confirmation of this level as a new resistance-turned-support. A bearish engulfing pattern was visible at 03:30 ET, indicating a continuation of the downward bias. A doji formed near 1.70e-06, suggesting indecision and a potential reversal, though it was quickly followed by a bearish continuation below that level.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bearish crossover, reinforcing the downward trend. The daily chart showed the 50-period moving average crossing below the 100 and 200-period lines, indicating a deeper bearish bias. The 50-period MA on the daily chart currently sits above the current price, offering a potential target for further downside.

MACD & RSI

The MACD crossed below the signal line early on, confirming bearish momentum. The histogram showed a gradual decline in intensity until a minor divergence appeared at the end of the session. The RSI dropped below 30 during the late-night hours, signaling an oversold condition. However, the price continued to fall, suggesting that bearish pressure may not yet have been exhausted.

Bollinger Bands

Bollinger Bands constricted around mid-session, indicating a period of low volatility and potential buildup for a breakout or breakdown. The price closed just below the lower band at 1.69e-06, reinforcing the bearish narrative. A retest of the lower band in the following 24 hours could either confirm the support or trigger further selling.

Volume & Turnover

Volume was highly uneven, with significant spikes at 05:30 ET, 14:45 ET, and 15:00–15:15 ET. These periods saw sharp price corrections and retests of key levels. Turnover was generally low during consolidation phases, with the largest turnover occurring during the 14:45–15:15 ET window. Divergences were noted between price and volume in the early morning, where volume failed to confirm strong price moves, indicating potential weakening of the bearish momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 1.74e-06 to 1.69e-06, the 38.2% level sits at 1.719e-06 and acted as a key resistance during the session. The 61.8% level at 1.710e-06 was tested twice with bearish continuation, indicating it may serve as a near-term floor. On the daily chart, a retracement from the previous high could provide a target for a potential bounce, but only if volume and momentum show reversal signs.

Backtest Hypothesis

A potential backtesting strategy could focus on detecting bearish engulfing patterns and doji formation near key Fibonacci levels. A long-term bearish signal could be triggered when the RSI falls below 30 and volume spikes, as seen in the late-night and early-morning hours. A short entry could be considered when a doji forms after a breakdown, confirmed by a close below the pattern's low. This strategy would be most effective during low-volatility phases, where consolidation often precedes directional moves. Given the current setup, PNUTBTC appears to be in a bearish consolidation phase, and a valid breakdown below 1.69e-06 could extend the downward trend.