Adventure Gold/Bitcoin Market Overview

• Adventure Gold/Bitcoin traded in a 0.04% range over 24 hours, closing slightly below the opening level.
• A notable price dip occurred late evening ET, reaching a 1.67% drawdown from the session high.
• Trading volume surged during the price decline, suggesting increased bearish activity.
• RSI approached oversold territory, while Bollinger Bands tightened mid-day before expanding again.
• No major reversal patterns emerged, but volume distribution hinted at potential support around 3.17e-06.

Adventure Gold/Bitcoin (AGLDBTC) opened at 3.35e-06 on 2025-11-02 at 12:00 ET and closed at 3.18e-06 on 2025-11-03 at 12:00 ET. The 24-hour range was 3.39e-06 (high) to 2.94e-06 (low). Total trading volume was 308,832.9, and notional turnover was $985.50. Price activity was generally bearish after a mid-day consolidation.

Structure & Formations

Price action revealed a prolonged bearish bias in the latter half of the session, with a sharp decline beginning after 18:30 ET. A notable 1.67% drawdown occurred between 15:30 and 15:45 ET, where AGLDBTC broke below the 3.18e-06 level and tested lower supports at 3.12e-06 and 3.09e-06. A long lower shadow appeared at 15:45 ET, suggesting rejection at lower levels. No strong reversal patterns emerged, but the candlestick at 18:30 ET showed a bearish engulfing pattern, indicating a continuation of the downtrend.

Moving Averages

On the 15-minute chart, price spent most of the session below the 20-period and 50-period SMAs, reinforcing the bearish tone. The 50-period SMA acted as a resistance in the mid-session, with price failing to reclaim it after 19:00 ET. The daily 50/100/200 EMA structure suggested a short-term bearish divergence, as price moved below all three major EMAs following the late-evening selloff. This alignment increases the likelihood of continued downward momentum in the short term.

MACD & RSI

The MACD line crossed below the signal line during the early selloff, confirming a bearish momentum shift. RSI approached the 30-level during the late-evening decline, hinting at potential oversold conditions, though price continued lower rather than bouncing. Divergence between RSI and price was minimal, but the RSI bottoming near 30 suggests that further declines may be limited in the short term. Momentum appears to be weakening, but confirmation of a reversal remains pending.

Backtest Hypothesis

For the proposed backtesting strategy, it appears that a 14-day RSI is necessary to generate entry signals. A 3-day holding strategy based on RSI oversold events (RSI < 30) could be evaluated using a close-based price series. However, the inability to retrieve AGLDBTC data from the current source is a critical constraint. Confirming the correct symbol (e.g., AGLD-BTC on Binance or Coinbase), preferred price series (close is ideal), and whether an alternative pair (e.g., AGLD/USDT) is acceptable will allow the RSI data to be retrieved and the backtest to proceed.