REQBTC Market Overview

Summary• Price formed a bullish breakout from a consolidation zone with strong volume confirmation.• RSI signaled overbought conditions late in the session, suggesting potential exhaustion.• Volatility expanded with price reaching above the upper Bollinger Band in the final hours.• A sharp reversal candle formed in early morning ET after a large-volume downswing.• Key support at 1.25e-06 and resistance at 1.29e-06 showed resilience throughout the day.

Market Overview

Request/Bitcoin (REQBTC) opened at 1.26e-06 on 2025-11-08 12:00 ET, surged to 1.30e-06, and closed at 1.28e-06 by 2025-11-09 12:00 ET. Total volume traded in the 24-hour period reached 27,064.0, with notional turnover reflecting the price action. The pair showed a strong rally in the early morning hours followed by a pullback in the afternoon.

Structure & Formations

REQBTC moved within a tight range for most of the day before breaking above 1.27e-06 on heavy volume. A bullish flag pattern emerged after the consolidation phase. A bearish reversal candle appeared in the early morning, signaling short-term uncertainty. Key resistance levels at 1.27e-06 and 1.29e-06 showed mixed responses, with the latter holding on a test in the afternoon. A strong support level at 1.25e-06 held during a sharp sell-off.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA, reinforcing the short-term bullish bias. On the daily chart, the 50-period SMA sits below the 100-period and 200-period SMAs, suggesting a mixed trend. Price remains above the 20-period SMA, supporting the bullish case for near-term continuation.

MACD & RSI

MACD showed a bullish divergence during the early morning rally, with a positive histogram at the peak of the move. RSI reached overbought territory in the final hours of trading, peaking at 75, suggesting a potential pause or correction. However, the RSI has not shown a bearish divergence, preserving the bullish momentum.

Bollinger Bands

Volatility expanded significantly in the early morning as price broke above the upper Bollinger Band. The midline of the bands remained well below the price, indicating strong bullish momentum. A contraction in the band width occurred in the early afternoon, signaling a period of consolidation.

Volume & Turnover

Trading volume spiked to 5,135.0 during a 15-minute rally pushing price to 1.28e-06, confirming the strength of the move. A large-volume sell-off occurred in the late morning, pushing price back to 1.25e-06. Turnover and price were in sync, with no signs of divergence. High turnover in the morning and afternoon periods suggests active participation across both long and short positions.

Fibonacci Retracements

Key Fibonacci levels at 38.2% and 61.8% of the morning rally (from 1.25e-06 to 1.29e-06) aligned with notable resistance levels. The 61.8% retrace level at 1.27e-06 held strong during the afternoon pullback, suggesting continued buying interest at this level.

Backtest Hypothesis

A potential backtest could involve using MACD top-divergence signals to trigger short positions, with exits occurring on the next opposite MACD signal (e.g., a bottom divergence). This would align with the bearish reversal candle observed in the morning, which coincided with a MACD divergence. Including stop-loss and take-profit levels could refine performance. For example, a 1.5% stop-loss and 3% take-profit could be tested. This strategy would be evaluated from 2022-01-01 through today using historical REQBTC data.