Market Overview: Santos FC Fan Token/Bitcoin (SANTOSBTC)

• Price trended lower from 1.634e-05 to 1.57e-05 over 24 hours, with bearish momentum in the final hours.
• Volume surged during a 6.15–6.30 ET rebound, while turnover confirmed price action briefly.
• Bollinger Bands and RSI indicate moderate oversold conditions near 1.57e-05 but no strong reversal signals.
• No strong bullish candlestick patterns emerged; bearish continuation bias remains intact.

Santos FC Fan Token/Bitcoin (SANTOSBTC) opened at 1.634e-05 on 2025-09-21 at 12:00 ET, reaching a high of 1.653e-05 and a low of 1.519e-05 before closing at 1.598e-05 at 12:00 ET on 2025-09-22. Total volume traded was 6,847.88 and turnover amounted to $1.09 (assuming Bitcoin value remains constant at $65,000).

Structure & Formations

Price action displayed a bearish breakdown from 1.634e-05, with a sharp sell-off starting around 06:15 ET that drove price to 1.571e-05. This was followed by a partial rebound to 1.6e-05 by 08:30 ET. A subsequent decline to 1.57e-05 by 15:15 ET consolidated bearish sentiment. Key support levels appear near 1.57e-05 and 1.519e-05, while resistance remains at 1.6e-05 and 1.653e-05.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart trended lower through the session, with the 50-period line lagging below the 20-period, reinforcing bearish momentum. Over the daily timeframe, 50-period and 200-period lines suggest a continuation of the downtrend with no signs of reversal.

MACD & RSI

MACD remained negative for most of the session, with a small positive divergence seen in the early hours of 06:15–08:30 ET, but this failed to sustain. RSI dipped below 30 twice during the session, most notably near the 1.57e-05 level, indicating oversold conditions, but lacked confirmation of a reversal.

Bollinger Bands

Volatility expanded during the sharp decline from 1.634e-05 to 1.519e-05, with price reaching the lower band for a brief period. However, the bands then retracted slightly, signaling a potential consolidation phase. Price has since traded near the middle band, suggesting limited directional bias.

Volume & Turnover

Volume spiked during the early morning sell-off (06:15–06:30 ET), confirming the move to 1.571e-05. A second volume spike occurred at 08:30–09:30 ET during the rebound. Notional turnover aligned with these volume spikes, indicating active participation. However, volume during the 15:15–16:00 ET consolidation phase was subdued, suggesting lack of conviction in further declines.

Fibonacci Retracements

Applying Fibonacci levels to the 1.634e-05 to 1.519e-05 move, key retracement levels are at 1.577e-05 (38.2%) and 1.596e-05 (50%), where price found some short-term support. The 61.8% level is at 1.616e-05, which has yet to be tested. These levels may act as potential reversal or consolidation points in the near term.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position when RSI drops below 30 and price breaks below the 50-period moving average, with a stop-loss placed above the recent swing high (e.g., 1.6e-05). A long entry may be triggered on a breakout above 1.6e-05 with confirmation on rising volume. Given the current setup, a short bias appears justified, with a target of 1.519e-05 and a 1.6e-05 stop.