Market Overview for Request/Bitcoin (REQBTC) on 2025-11-05

Summary
• Price formed a bullish reversal pattern during early trading hours.
• Volume spiked during key upward moves.
• Volatility remained moderate with no clear RSI overbought/oversold signals.
• Price tested and held above 1.19e-06 support level.
• No strong divergence between volume and price movement observed.

Request/Bitcoin (REQBTC) opened at 1.18e-06 on 2025-11-04 12:00 ET and reached a high of 1.23e-06 during the 24-hour period. It found support near 1.18e-06 before closing at 1.21e-06 on 2025-11-05 12:00 ET. Total volume reached 323,856.0, with turnover of approximately 390.48 (based on volume-weighted average price). The price trended upward from morning hours, forming a potential bullish engulfing pattern as it broke out of a tight consolidation phase.

On the 15-minute chart, the price remained within a relatively tight range for most of the day, with a few breakout attempts. The 20-period and 50-period moving averages were both bullish, with the 50-period line slightly above the 20-period. The MACD showed a positive divergence early in the session, suggesting growing bullish momentum, while the RSI hovered between 40 and 55, indicating a balanced market with no extreme overbought or oversold conditions. Bollinger Bands remained relatively flat, reflecting subdued volatility. The 20-period standard deviation was stable, with no signs of a contraction or expansion.

Fibonacci retracement levels from the prior 24-hour low to high showed the price consolidating near the 61.8% retracement level, suggesting a potential area of interest for further consolidation or reversal. The volume pattern showed a noticeable increase during the price breakout phase, especially between 19:30 and 21:30 ET, indicating accumulation by buyers. No significant divergence was observed between price and volume during these periods, reinforcing the strength of the upward move.

The 50-period moving average on the daily chart appeared to offer support, with the 200-period line acting as a psychological threshold that could dictate future direction. The price remains above both the 50 and 100-period lines, suggesting short-term bullishness. If the price continues to hold above 1.19e-06 and breaks the 1.23e-06 resistance level, it may attract additional buyers. However, a break below 1.18e-06 could trigger a retest of prior support levels. Investors should closely monitor the 1.21e-06–1.23e-06 zone for potential follow-through.

A backtest hypothesis could be built around key technical signals observed: a bullish engulfing pattern, a positive MACD divergence, and volume confirmation during the breakout. A strategy could be defined as entering a long position upon a close above the 1.23e-06 resistance level, with a stop-loss placed below the 1.18e-06 support and a take-profit at the next Fibonacci extension level. Given that the platform lacks technical data for the REQBTC pair, this strategy remains theoretical for now and requires confirmation from a recognized symbol (e.g., REQUSDT or REQ-USD).