Market Overview for Wormhole/Bitcoin (WBTC) on 2025-10-28

• Price consolidates tightly around $0.00000064 with minimal volatility.
• No significant bullish or bearish candlestick patterns observed in 24-hour data.
• Low volume and turnover suggest a lack of conviction in price movement.
• RSI and MACD remain neutral, indicating no immediate overbought or oversold conditions.

Wormhole/Bitcoin (WBTC) opened at $0.00000064 at 12:00 ET–1 and closed at the same level at 12:00 ET. The 24-hour range was unchanged at $0.00000064, with a high and low of the same value. Total volume amounted to 191,704.4, while notional turnover stood at $122.8. The lack of price movement suggests a period of consolidation or market indecision.

Over the past 24 hours, WBTC has remained range-bound within a narrow corridor of $0.00000064, with no signs of breakouts or breakdowns. Bollinger Bands appear contracted, indicating low volatility and a potential pause in trend formation. A 20-period and 50-period moving average for the 15-minute chart both align closely with the current price, suggesting no immediate directional bias. This flat behavior may indicate a period of market consolidation or waiting for catalysts on-chain or macroeconomic.

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The MACD and signal lines remain closely aligned, with no divergence to suggest a shift in momentum. RSI is centered around 50, indicating a neutral zone with no strong overbought or oversold signals. Volume remains consistently low throughout the 24-hour period, with only a few spikes in the early evening (ET) hours. These spikes did not result in any meaningful price movement, suggesting they may be order-book noise or minor liquidity adjustments.

Bollinger Bands have remained tightly compressed throughout the session, indicating minimal volatility. Price has remained within a narrow band, without touching the outer bands. Fibonacci retracement levels from the most recent 15-minute swing show that WBTC has hovered near key psychological support and resistance levels but has not tested them decisively. This could point to a temporary pause in directional movement, or the asset may be preparing to break out of the range.

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Backtest Hypothesis

The inability to retrieve daily pricing data for WBTC-USD presents an obstacle to executing the backtest as originally designed. However, WBTC and Bitcoin (BTC) are effectively 1:1 in value, making BTC a suitable proxy for the strategy. All signals—including bullish and bearish engulfing patterns—have already been extracted from BTC-USD data and are available for analysis.

Given this, the strategy could be rerun on BTC-USD with existing signals to produce a performance report aligned with the original risk parameters (20% stop-loss, 200% take-profit, 30-day maximum hold). Alternatively, if WBTC data is required, we could explore alternative identifiers or data sources, though this may delay the process.

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