Market Overview: Santos FC Fan Token/Bitcoin (SANTOSBTC) — October 23, 2025

• Price declined by 1.3% in 24 hours with 2 key pullbacks identified.
• High volatility observed in the 19:00–20:30 ET range.
• Turnover spiked at 20:30 ET, matching a 1.229% price drop.
• Overbought RSI levels briefly reached 80 during early morning rally.
• Bollinger Bands constricted during 00:15–02:30 ET, suggesting consolidation.

Santos FC Fan Token/Bitcoin (SANTOSBTC) opened at 1.277e-05 on October 22 at 12:00 ET and closed at 1.25e-05 on October 23 at the same time, with a high of 1.29e-05 and a low of 1.204e-05 during the 24-hour period. Total volume amounted to 17,447.9 BTC equivalents, while notional turnover reached $2,177.65, based on the average price of 1.247e-05.

The 15-minute OHLCV data reveals a bearish trend with a clear breakdown from 1.277e-05 to a low of 1.204e-05 during the evening hours. A notable pullback occurred around 22:30–23:30 ET, with a brief recovery to 1.223e-05, followed by another decline. A significant volume spike occurred at 20:30 ET (7,211.94 BTC equivalents), coinciding with a sharp drop to 1.229e-05. This suggests increased selling pressure during that period. Key support levels appear to be forming around 1.244e-05 and 1.223e-05, with resistance at 1.25e-05 and 1.277e-05.

The RSI indicator, calculated on 15-minute intervals, showed overbought conditions (reaching above 80) during the early morning rally around 02:30 ET and again at 08:15 ET. The momentum appears to have weakened since, with RSI trending below 50 by midday. MACD (12,26,9) crossed below the signal line early in the morning, confirming bearish momentum. Volatility, as measured by the range of Bollinger Bands, narrowed during the early hours (00:15–02:30 ET), indicating consolidation before the sharp decline later in the session. Price spent much of the day trading near the lower Bollinger Band, suggesting bearish bias and potential for further downside unless buyers step in near key support levels.

The 20- and 50-period moving averages on the 15-minute chart both crossed below price action, reinforcing the bearish bias. On a broader scale, if 50- and 100-period daily moving averages are assumed to follow a similar pattern, this would support a continuation of the current trend. Fibonacci retracement levels from the high of 1.29e-05 to the low of 1.204e-05 show 61.8% at 1.239e-05 and 38.2% at 1.257e-05, suggesting key levels for potential bounce or breakdown in the next 24 hours.

Backtest Hypothesis
The proposed backtesting strategy involves scanning for bearish reversal patterns like the Dark Cloud Cover on the 15-minute chart since 2022. These signals would trigger short entries, with targets set at the next bullish reversal pattern or stop-loss at 1.5% above the entry. The SANTOSBTC pair appears to fit this type of analysis well, with clear 15-minute swing highs and lows and consistent volume action during key turning points. If this pattern is confirmed to be recurring and statistically significant, it could provide a robust framework for automated trading. This strategy would benefit from being applied to a recognized and liquid symbol—such as SANTOSUSDT—if SANTOSBTC is not available. Confirming the exact ticker and exchange will allow us to run the full backtest and generate performance metrics for further review.