Market Overview for PIVX/Bitcoin (PIVXBTC) – 2025-11-12

Summary
• PIVXBTC opened at 2.26e-06 and traded in a tight range, closing near the low at 2.27e-06.
• Momentum remains subdued, with RSI near the 40 level, suggesting a lack of strong bullish or bearish bias.
• Volatility increased during the 24-hour period, with a total volume of 188,644.0 and turnover of 426.86.

The PIVX/Bitcoin (PIVXBTC) pair opened at 2.26e-06 on 2025-11-11 at 12:00 ET and reached a high of 2.49e-06 during the 24-hour period. It closed at 2.27e-06 at 12:00 ET on 2025-11-12. Total volume traded was 188,644.0, and total turnover was 426.86. Price has been range-bound, with no decisive breakouts observed, and the candlestick structure has shown no clear reversal patterns so far.

Structure & Formations

Price action formed a bearish consolidation pattern around 2.26e-06–2.49e-06, with a notable bearish break below 2.24e-06 and a temporary rebound back to 2.26e-06. The 2.24e-06 and 2.26e-06 levels appear to act as key support and resistance, respectively. A morning doji near 2.27e-06 suggested indecision, while a later bearish engulfing pattern may signal increased bearish sentiment.

Moving Averages

On the 15-minute chart, price moved within a tight range and showed no clear direction relative to the 20- and 50-period moving averages. On the daily chart, the 50-period MA is above the 100- and 200-period lines, indicating a slight bias toward higher prices over a longer timeframe, although the 24-hour close remains below the 50-period MA.

MACD & RSI

The MACD histogram remained near the zero line, with no clear divergence between price and momentum. RSI hovered around 40–50, suggesting a neutral market. While no overbought or oversold conditions were evident, RSI may begin to trend downward if bears continue to hold control.

Bollinger Bands

Price moved within a contracted Bollinger Bands range in the morning, followed by an expansion in the afternoon and night. At the 24-hour close, the price is sitting just above the lower band, suggesting a potential short-term oversold condition, though this needs confirmation with a rebound.

Volume & Turnover

Trading volume surged to a high of 40,702.0 during the 04:15 ET candle, indicating a sharp increase in participation during the bearish phase. Notional turnover spiked in line with the volume surges, confirming the bearish thrust. Price and turnover remain aligned, with no significant divergence noted.

Fibonacci Retracements

Applying Fibonacci levels to the most recent swing from 2.21e-06 to 2.49e-06, price found support near the 38.2% retracement level at 2.36e-06 and the 61.8% level at 2.26e-06. The 24-hour close near 2.27e-06 is close to the 61.8% level, potentially offering near-term support.

Backtest Hypothesis

Despite the presence of bullish engulfing patterns in the data, a backtesting strategy based on such patterns over a 3-day holding period produced a negative return of -33.1%. With an average losing trade of -6.55% and a maximum drawdown of 50%, the strategy underperformed significantly, highlighting the risks of relying solely on isolated candlestick signals in volatile markets like PIVXBTC.