Market Overview for Tether/Colombian Peso (USDTCOP) – 2025-11-10

• Price fluctuated between 3788.0 and 3808.0 with mixed momentum signals.
• Volume picked up toward the morning, peaking in the early hours of 11/10.
• RSI and MACD showed no strong overbought or oversold conditions.

Tether/Colombian Peso (USDTCOP) opened at 3793.0 on 2025-11-09 12:00 ET and closed at 3795.0 by 2025-11-10 12:00 ET. The pair reached a high of 3808.0 and a low of 3788.0 over the 24-hour period. Total trading volume stood at 96,167.0 with an approximate turnover of 357,976,825.0 (based on volume and average price).

The 24-hour candlestick pattern showed a mixed range-bound consolidation with a slight bullish tilt in the final 6 hours of the window. Several candles formed near key support and resistance levels (3790–3795), with a notable bearish divergence observed in the early morning of 11/10 after a short-lived bullish breakout. A bullish reversal candle appeared at 2025-11-09 20:30–20:45 ET, but it was followed by a sharp retest and a neutral close.

Bollinger Bands showed a mild expansion as the price tested the upper band briefly during the mid-evening (21:00–21:15 ET) before retracting. The RSI moved within the 45–55 range, indicating neutral to slightly bullish momentum but without clear overbought or oversold conditions. MACD lines remained flat, suggesting a lack of strong directional bias. 15-minute moving averages (20/50) intersected during the late night, indicating a potential consolidation phase.

Volume increased steadily overnight, peaking at 5980.0 and 3845.0 at 20:30 and 04:00 ET, respectively, but failed to confirm a strong breakout. A divergence between price and volume was noted in the early morning, as price declined while volume remained elevated. This suggests a potential exhaustion of bearish pressure, but confirmation is pending.

A potential key support level at 3790.0 held firm for much of the 24-hour period, with a minor retest at 3788.0. A Fibonacci 61.8% retracement level aligned closely with this zone, which could act as a psychological pivot. The price then bounced toward 3805.0, a 38.2% retracement of the prior day's range. No strong continuation patterns formed, but a Bullish Engulfing pattern was observed near 20:45 ET.

Backtest Hypothesis
A potential backtest could be designed using the observed Bullish Engulfing pattern at 20:45 ET, with an exit at the close of the next candle. However, due to a technical limitation, the automated detection of such patterns for USDTCOP has failed—likely due to a ticker symbol mismatch or unavailability of pattern recognition data for this pair. To proceed, you may:
1. Confirm the correct ticker symbol (e.g., USDT-COP, USDCOP=X).
2. Supply a CSV file of daily prices for USDTCOP, and I can manually detect the Bullish Engulfing pattern occurrences.
3. Provide a list of Bullish Engulfing dates directly, and I will run the backtest from 2022-01-01 to 2025-11-10.
Once validated, the backtest would execute the “buy on Bullish Engulfing, exit next candle close” strategy and deliver a performance report.