Market Overview for Wanchain/Bitcoin (WANBTC) – 2025-09-13

• Price consolidated near 9.6e-07 for most of the session before a late rally to 9.8e-07.
• Volume spiked sharply after 04:00 ET, with over 5,657 units traded at 9.8e-07.
• RSI reached overbought territory late in the session, suggesting possible near-term reversal risk.
• Bollinger Bands remained narrow until the final hours, indicating a breakout in progress.
• Turnover surged at key highs, confirming strength in the late-session rally.

The Wanchain/Bitcoin (WANBTC) pair opened at 9.6e-07 on September 12 at 12:00 ET and closed at 9.8e-07 at 12:00 ET on September 13. During the 24-hour window, the pair touched a high of 9.8e-07 and a low of 9.6e-07. Total volume across all 15-minute intervals reached 17,626.0, with total notional turnover remaining consistent throughout the session.

Structure & Formations

The price action for WANBTC displayed a clear consolidation phase for most of the session near 9.6e-07. A breakout began at 04:00 ET, with a sharp move to 9.7e-07 and then 9.8e-07, marked by high-volume confirmation. A bullish engulfing pattern emerged during the early morning, followed by a series of green candles confirming the breakout. A notable doji formed at 05:00 ET, signaling potential indecision before the final push higher.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended upwards, reflecting the bullish momentum. On the daily chart, the 50/100/200-period lines have converged to form a potential support zone around 9.6e-07. The current price at 9.8e-07 has moved above the 50-period MA, suggesting a continuation of the bullish trend may be in play.

MACD & RSI

The MACD crossed into the positive territory during the early morning and remained bullish for the majority of the session, suggesting sustained momentum. RSI reached a peak above 70 during the final hours of the trading window, indicating overbought conditions. While this does not guarantee a reversal, it does signal caution for further upward moves without a pullback.

Bollinger Bands

Volatility was initially low, with Bollinger Bands appearing narrow for most of the session. However, as the price approached 9.7e-07 and moved to 9.8e-07, the bands widened, indicating a potential breakout in progress. Price remained above the upper band during the last hours of the session, reinforcing the strength of the rally.

Volume & Turnover

Volume surged sharply at 04:00 ET, with over 5,657 units traded at 9.8e-07. This was one of the largest volume spikes observed during the 24-hour window and confirmed the strength of the breakout. Turnover was consistent with volume, showing no divergence in price and volume behavior. The late-session rally was backed by solid liquidity, increasing the probability of a continuation of the current trend.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 9.6e-07 to 9.8e-07, the 38.2% level resides at approximately 9.7e-07 and the 61.8% level near 9.7e-07. The price currently sits at 9.8e-07, suggesting a potential pullback to the 61.8% level could be in play before any further upward movement.

Backtest Hypothesis

Given the strong volume and momentum observed at key levels, a potential backtesting strategy could focus on breakout entries above 9.7e-07, with stop-loss placement below this level. The MACD and RSI could serve as confirmation tools, with RSI divergence signaling potential overbought conditions and MACD crossover signaling trend strength. This strategy would align with the observed price action, particularly the bullish engulfing pattern and confirmed breakout at 04:00 ET.