Market Overview: Treasure/Bitcoin (MAGICBTC) Daily 24-Hour Summary

• Price drifted lower through the session, closing near its daily low amid low-volume consolidation.
• Key resistance at 1.20e-06 failed to hold, with bearish momentum intensifying after 2025-11-03 15:45 ET.
• A sharp 9% drop in the final 15-minute window suggests capitulation or forced liquidations.
• Turnover surged during the breakdown but failed to confirm bearish continuation.
• Volatility expanded sharply during the final leg down, with price exiting the lower Bollinger Band.

Treasure/Bitcoin (MAGICBTC) opened at 1.19e-06 at 12:00 ET-1 and drifted lower over the course of the 24-hour period, closing at 1.10e-06 at 12:00 ET. The pair reached a high of 1.21e-06 and a low of 1.04e-06, with total volume of 274,520.7 units and notional turnover of 0.3015 BTC. A bearish breakout occurred in the final hours, with a 9% drop in the last 15 minutes.

Price action was characterized by a slow, grinding descent following failed attempts to retest the 1.20e-06 resistance. A bearish engulfing pattern formed at 1.20e-06, signaling a shift in control. A key 1.15e-06 support was then broken under heavy volume, followed by a sharp decline to the 1.04e-06 level. Volatility expanded during the breakdown, with price exiting the lower Bollinger Band. The 20-period and 50-period moving averages were both bearishly aligned, reinforcing the downtrend.

The 50-period moving average remained below the 20-period line throughout the session, confirming a bearish bias. MACD remained negative and showed no sign of divergence, suggesting continued selling pressure. While RSI data is unavailable due to a technical issue, the price action and volume behavior suggest the pair may be oversold near the 1.04e-06 level. Key Fibonacci retracement levels (38.2% and 61.8%) from the 1.21e-06 to 1.04e-06 move now sit at 1.14e-06 and 1.09e-06, respectively, and could serve as potential reversal points.

Backtest Hypothesis
The technical-indicator service that supplies RSI data returned an unexpected error when attempting to fetch the RSI series for MAGICBTC, hindering a complete momentum assessment. A potential backtest strategy could involve retrying the request to address occasional API instability. Alternatively, a narrower time frame (e.g., 2023–present) could be tested to reduce query load. If successful, the RSI could be integrated into a strategy focusing on overbought/oversold levels and divergences, particularly in conjunction with the MACD and price-volume dynamics observed in this 24-hour window.