Market Overview for Treasure/Bitcoin (MAGICBTC) – 24-Hour Analysis

• Price surged ~275x from 1.09e-06 to 1.56e-06 before consolidating.
• Volatility spiked after 10:00 ET, with a sharp 0.3e-06 move in 15 minutes.
• Strong volume expansion observed during the upward break.
• RSI and MACD suggest overbought momentum, with mixed bearish divergence.
• Key support tested at 1.34e-06 and appears to hold in early consolidation.

Price and Volume Summary

Treasure/Bitcoin (MAGICBTC) opened at 1.09e-06 on 2025-10-12 at 12:00 ET, reaching a high of 1.56e-06 and a low of 1.08e-06. The pair closed at 1.38e-06 on 2025-10-13 at 12:00 ET. Total volume over 24 hours was approximately 1.03 million units, with notional turnover peaking during the sharp upward move between 10:30 ET and 11:30 ET.

Structure & Formations

The 15-minute chart shows a clear bullish reversal from 1.09e-06 to 1.56e-06, with the pair forming a strong ascending triangle after 10:00 ET. A long-bodied bullish candle formed around 10:30 ET, suggesting renewed buying momentum. The consolidation phase after the high at 1.56e-06 appears as a potential bearish flag, with key support at 1.34e-06 being tested. A doji formed near 1.4e-06, hinting at indecision after the sharp rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upwards and align with the price action. The 50SMA at ~1.37e-06 appears to act as a dynamic support. On the daily chart, the 200SMA may have crossed below the 50SMA in the past week, suggesting a potential long-term bullish bias if confirmed.

MACD & RSI

The MACD line has crossed above the signal line with increasing positive divergence, reinforcing the recent bullish momentum. The RSI reached 80+ in the middle of the rally, indicating overbought territory. However, the RSI divergence with price suggests a potential correction may follow, especially if the price struggles to retest 1.5e-06.

Bollinger Bands

Volatility expanded sharply after 10:00 ET, with the price pushing above the upper band at ~1.5e-06. The Bollinger Band width increased by ~50% from earlier in the day, confirming a breakout phase. The current price is now within the middle band, suggesting the market is consolidating after the burst of volatility.

Volume & Turnover

Volume surged during the breakout from 1.09e-06 to 1.56e-06, particularly between 10:30 ET and 11:30 ET, with notional turnover reaching a peak of ~1.51e-06 during that period. However, volume has since contracted during the consolidation phase, which could indicate waning momentum. The divergence between volume and price during the pullback from 1.5e-06 suggests a potential weakening in conviction.

Fibonacci Retracements

The most recent swing high (1.56e-06) and low (1.09e-06) show key retracement levels at 1.36e-06 (61.8%) and 1.3e-06 (38.2%). The current price at 1.38e-06 suggests a potential pullback could find support at the 61.8% level. A break below 1.3e-06 would open the door for further testing of 1.2e-06.

Backtest Hypothesis

Given the recent overbought RSI and strong bullish momentum, a backtest strategy based on a 14-period RSI with a 70 overbought threshold appears relevant. The RSI reached overbought levels during the breakout phase, which could have triggered a sell or short signal. If the RSI had closed below 70 on the next candle, it would have indicated an exit point. Adjustments to the RSI period or threshold could refine the strategy, but with the current data, the approach aligns with the observed price behavior.