Market Overview for SPACE ID/Bitcoin (IDBTC): 24-Hour Update as of 2025-10-04 12:00 ET

• Price consolidated near $1.29e-06 after a brief attempt to retest $1.3e-06.
• Momentum remained neutral with RSI hovering in the mid-range.
• Volatility subdued, with Bollinger Bands contracting and no clear breakouts.
• Volume surged at 16:30 ET but failed to push price higher, suggesting indecision.
• Recent bearish divergence in price and turnover at $1.27e-06 raises caution.

The 24-hour chart for IDBTC shows a range-bound pattern, opening at $1.29e-06, peaking at $1.3e-06, and settling at $1.24e-06 near 12:00 ET. Total trading volume was 307,161.0 units, while notional turnover remained subdued. The price has been testing key levels around $1.27e-06 and $1.3e-06, with no clear directional breakout evident.

Structurally, IDBTC is consolidating within a tight range between $1.24e-06 and $1.3e-06. Key support levels appear at $1.24e-06 and $1.23e-06, with $1.3e-06 acting as a strong resistance. A bearish engulfing pattern formed at $1.27e-06 on the morning of 10/4, signaling a shift in sentiment. A doji formed near $1.25e-06, suggesting a potential reversal or pause in the downward drift.

The 20 and 50-period moving averages on the 15-minute chart are closely aligned, indicating no strong momentum shift. The 50-period moving average on the daily chart is just above $1.26e-06, suggesting continued bearish bias on a longer time frame. MACD shows a weak negative divergence, with the histogram contracting, while RSI remains in neutral territory between 45–55. This implies the market is neither overbought nor oversold but lacks conviction.

Bollinger Bands have contracted significantly, suggesting a period of low volatility may precede a breakout. Price has hovered near the upper band during early morning hours but retreated into the lower half of the band during the afternoon. Volume was highest in the early morning and late afternoon, with several spikes near resistance levels. However, these volume surges failed to confirm bullish moves, suggesting bearish exhaustion may be limited.

A Fibonacci retracement drawn from the 10/3 high of $1.3e-06 to the 10/4 low of $1.24e-06 places 38.2% at $1.28e-06 and 61.8% at $1.26e-06. Price has bounced off the 61.8% level multiple times but failed to hold above. These levels are currently testing the market’s willingness to defend bearish or bullish positions.

Backtest Hypothesis
The described backtest strategy involves entering a short position upon a bearish engulfing pattern forming near resistance levels, with a stop-loss placed just above the high of the pattern and a target at the next Fibonacci level. Over the last 24 hours, such a pattern was observed near $1.27e-06, and a short could have been initiated with a stop above $1.28e-06. The price subsequently moved to $1.24e-06, hitting the 61.8% retracement level, suggesting the strategy may offer short-term bearish opportunities. Given the current structure and indicators, a similar approach could be valid in the coming 24 hours if IDBTC retests $1.27e-06 with weak volume and candlestick confirmation.