Market Overview for Treasure/Bitcoin (MAGICBTC) – October 12, 2025

• Price declined by 2.55% over 24 hours, closing at 1.06e-6 BTC
• A key support level formed around 1.04e-6 after multiple bounces
• Volume spiked near 1.08e-6 and 1.10e-6, signaling short-term interest
• RSI indicates oversold conditions at times, suggesting potential rebound
• Price remained within Bollinger Bands, reflecting moderate volatility

The Treasure/Bitcoin (MAGICBTC) pair opened at 1.07e-6 BTC at 12:00 ET – 1, touched a high of 1.09e-6 BTC, and closed at 1.06e-6 BTC at 12:00 ET, with a low of 1.02e-6 BTC. Over the 24-hour period, the total volume traded was approximately 79,249.5 MAGIC tokens, and the notional turnover was $~0.082 BTC-equivalent, based on average price.

The price action shows a bearish bias over the past 24 hours, with a significant decline from 1.07e-6 to 1.06e-6 BTC. Notable resistance levels appear to be forming around 1.07e-6 and 1.09e-6 BTC, with a bearish breakdown confirming the downward trend. A key support level has emerged at 1.04e-6 BTC, where price has bounced several times, forming a potential base. A bearish engulfing pattern was observed at 1.05e-6 BTC, followed by a doji near 1.03e-6 BTC, indicating indecision among traders.

On the 15-minute chart, the 20-period and 50-period moving averages are in a bearish alignment, with the 50-period line below the 20-period line, reinforcing the downtrend. MACD remains negative, showing waning bullish momentum. RSI has dipped into oversold territory on multiple occasions, particularly during the decline from 1.07e-6 to 1.04e-6 BTC, which could signal a short-term rebound. However, the overall momentum suggests that the pair may consolidate before any meaningful reversal.

Bollinger Bands show moderate volatility, with price staying within the band’s range throughout the 24-hour period. A contraction in band width was observed around 1.04e-06 BTC, suggesting a potential breakout. Volume has spiked near the 1.08e-6 and 1.10e-6 BTC levels, indicating prior resistance and short-term accumulation. Notional turnover is closely aligned with price direction, with no significant divergence observed, supporting the integrity of the current trend.

The 38.2% and 61.8% Fibonacci retracement levels from the 24-hour high of 1.09e-6 BTC to the low of 1.02e-6 BTC fall at 1.074e-6 and 1.048e-6 BTC, respectively. Price has tested the 61.8% level multiple times and appears to be consolidating around this area. A break below 1.04e-6 BTC could trigger a test of the next support near 1.02e-6 BTC, whereas a retest of the 1.074e-6 BTC level may offer a short-term bullish opportunity. For now, the pair appears poised to trade within this range, with key levels of interest at 1.04e-6 and 1.07e-6 BTC.

Backtest Hypothesis

A potential backtesting strategy could involve a mean-reversion approach that targets the 61.8% Fibonacci level as a key entry point when RSI drops below 30 and volume spikes. Given the repeated testing of this level, a long entry could be triggered with a stop-loss placed below the 1.02e-6 BTC low. A take-profit target may be set at the 38.2% retracement level (1.074e-6 BTC) or the 1.09e-6 BTC resistance, depending on the risk-reward profile. This setup could be tested with a look-back period of 60 to 120 days to assess its effectiveness in similar consolidation phases. The use of trailing stops may also be explored to capture potential breakouts.