Market Overview for SHELLBTC (2025-10-06)

• SHELLBTC edged higher near the close, breaking prior 24-hour resistance levels with strong late-day buying.
• Low volatility characterized most of the session but spiked near the 9.9e-07 high in the early morning.
• Volume surged in the final 6 hours of the session, confirming strength in the price action.
• RSI hovered near neutral levels, suggesting balanced buyer and seller pressure.
• Bollinger Bands tightened before the breakout, hinting at a potential reversal or continuation pattern.

The SHELLBTC pair opened at 9.5e-07 on 2025-10-05 at 12:00 ET, reaching an intraday high of 9.9e-07 and a low of 9.4e-07 before closing at 9.9e-07 at 12:00 ET on 2025-10-06. Total volume for the 24-hour period was approximately 207,646.3, with a notional turnover of around $197.2 (assuming $1 = 1,000,000 units of Bitcoin). The price displayed a late-day bullish breakout, with heavy accumulation above 9.9e-07.

Structure and formations indicate a key resistance at 9.9e-07 was successfully broken, with a potential support level at 9.4e-07. A bullish engulfing pattern formed in the final hour, signaling strength in the short term. The price moved within a tight range for most of the session before a decisive move higher. The 20-period and 50-period moving averages were crossed near the close, with the 20-period MA above the 50-period MA, reinforcing a short-term bullish bias.

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The 15-minute RSI remained in the neutral range (around 50) throughout the session, indicating no clear overbought or oversold condition. MACD crossed into positive territory late in the session, confirming bullish momentum. Bollinger Bands showed a narrowing trend before the breakout, suggesting consolidation and a potential for price expansion. Price settled near the upper band at the close, indicating a strong short-term trend continuation may be in play.

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Backtest Hypothesis

Given the late-day breakout above 9.9e-07, a backtest strategy could involve entering a long position at the close with a stop-loss below the 9.9e-07 level and a target at 1.0e-06, which is a 61.8% Fibonacci extension from the recent swing low. The strategy could include a trailing stop to lock in profits as the price rises. Given the strong volume confirmation and MACD confirmation, this approach could be tested over similar past 15-minute breakouts for consistency in directional bias and risk-to-reward profile.

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