Quant/Bitcoin (QNTBTC) Market Overview: Bullish Breakout Amid High Volatility

• Price surged to 0.000879 on 24 September, forming a strong bullish rally.
• Momentum accelerated as RSI climbed above 65, signaling potential overbought conditions.
• Bollinger Bands widened during the session, reflecting heightened volatility.
• Volume spiked to 46.037 at 06:00 ET, coinciding with a key breakout to 0.0008729.
• A large bullish engulfing pattern emerged after the 0.0008372 pivot level was cleared.

Opening and Price Action Summary

Quant/Bitcoin (QNTBTC) opened at 0.0008173 on 23 September at 12:00 ET and surged throughout the session, reaching a high of 0.000879 before closing at 0.0008625 as of 12:00 ET on 24 September. The 24-hour candle shows a bullish rally, with total trading volume of 293.851 and notional turnover of 253.055 (in BTC equivalent).

Structure and Key Levels

The price of QNTBTC formed a strong bullish breakout above the 0.0008372 level, with a large bullish engulfing pattern confirming the move. A key support level appears to be around 0.0008213–0.0008236, with resistance forming near 0.0008625–0.0008729. A doji candle appeared at 0.0008322–0.0008274, signaling a potential consolidation phase before the breakout.

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Moving Averages and Momentum

On the 15-minute chart, the 20-period moving average crossed above the 50-period line, confirming a short-term bullish bias. The 50-period daily MA suggests a longer-term upward trend, aligning with the breakout pattern. The RSI surged above 65 during the session, indicating overbought conditions and a potential for a pullback or consolidation.

Volatility and Bollinger Bands

Volatility increased significantly during the late trading hours of 23 September and early 24 September, with Bollinger Bands widening. Price action reached the upper band multiple times during this period, particularly around 06:45 ET when a large bullish move pushed it to 0.0008754. This suggests a temporary overextension and possible reversal risk.

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Backtest Hypothesis

The proposed backtest strategy involves a breakout system that enters long when the price surpasses the 0.0008372–0.0008392 key pivot by a 1.5% threshold and exits when the 50-period moving average crosses below the 20-period line. This would have triggered a long entry on 24 September around 00:30 ET and a potential exit after the RSI crossed back into neutral territory. The strategy appears to align with the observed bullish engulfing pattern and could have captured the rally to 0.0008625.

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