Axelar/Bitcoin 24-Hour Market Overview

Summary
• Price surged to a 24-hour high of 1.68e-06, showing strong bullish momentum.
• High volume confirmed key breakouts above 1.6e-06 and 1.65e-06.
• RSI approached overbought levels, suggesting a possible pullback.
• Bollinger Bands expanded, reflecting increased volatility.
• Fibonacci levels at 1.61e-06 and 1.65e-06 acted as dynamic support/resistance.

Axelar/Bitcoin (AXLBTC) opened at 1.45e-06 on 2025-11-06 at 12:00 ET, reached a high of 1.68e-06, and closed at 1.67e-06 by 12:00 ET on 2025-11-07. Total volume for the 24-hour period was 70,898.33, while total turnover was approximately $115.48 million. The price action indicates a strong bullish bias with clear confirmation from volume.

Structure & Formations

The 24-hour chart shows a bullish breakout from a defined consolidation range. Notable support levels appear at 1.55e-06 and 1.59e-06, with a key resistance at 1.65e-06. A strong engulfing pattern emerged around 2025-11-07 16:30–16:45 ET, confirming the bullish trend. A potential bearish doji formed at 16:45–17:00 ET, hinting at short-term profit-taking.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA, reinforcing the bullish momentum. On the daily chart, the 50-period SMA is approaching the 100-period SMA, suggesting a potential convergence that could stabilize the trend. The 200-period SMA remains well below the current price, signaling a healthy uptrend.

MACD & RSI

MACD turned positive and crossed above the signal line, reinforcing the strength in the rally. RSI reached 70–75 near the close, indicating the pair may be entering overbought territory. However, the sustained volume suggests buyers remain in control. A pullback could offer a re-entry opportunity on a test of 1.61e-06.

Bollinger Bands

Volatility expanded as the price moved from the lower band to the upper band, with the most recent expansion occurring after the 1.65e-06 level was cleared. The current price sits near the upper band, indicating heightened buying pressure. A contraction in the bands may signal a potential reversal or consolidation phase ahead.

Volume & Turnover

Volume spiked to over 17,766.36 at 14:45–15:00 ET, confirming the breakout above 1.57e-06. Turnover remained in sync with price, with no notable divergence. The last major volume spike occurred at 16:30–16:45 ET, coinciding with a sharp move from 1.64e-06 to 1.65e-06, suggesting institutional participation.

Fibonacci Retracements

A key 61.8% retracement level at 1.61e-06 acted as a temporary support, after which price continued higher. On the daily chart, the 78.6% Fibonacci level at 1.67e-06 is now acting as a dynamic support. A break below 1.61e-06 may test the 50% level at 1.57e-06.

Backtest Hypothesis

To build an accurate back-test I need a bit more detail:
1. Which stock(s) (ticker symbols) would you like to test?
• One broad-market ETF such as SPY, or a specific list of individual stocks?
2. Please confirm the precise entry / exit rules:
• “RSI overbought” usually means RSI > 70.
• Do you want to open a long position the moment RSI first crosses ABOVE 70 and then close it when RSI FALLS BACK BELOW 70?
• Or did you intend the more common “buy when RSI < 30 (oversold), sell when RSI > 70 (overbought)”?
3. What RSI look-back period should we use? (The default is 14 days.)
4. Do you have any risk-management constraints (stop-loss, take-profit, max holding days), or should we run the test without them?
Once I have these details I can fetch the RSI data, generate the trade signals, run the back-test from 2022-01-01 to today (2025-11-07), and show you the results.

Looking ahead, Axelar/Bitcoin may test 1.68e-06 as the next target, but a pullback to 1.61e-06–1.65e-06 could offer a safer re-entry. Investors should remain cautious of overbought conditions and watch for signs of exhaustion in the next 24 hours.