Chromia/Bitcoin Market Overview

Summary
• CHRBTC traded in a tight range near $0.0000007, showing no clear directional bias.
• Volume remained subdued, with minimal turnover despite multiple attempts to break the range.
• No strong momentum signs were observed, as RSI and MACD indicated neutral conditions.

At 12:00 ET on 2025-11-11, Chromia/Bitcoin (CHRBTC) opened at $0.00000071, reached a high of $0.00000073, and settled at $0.00000071. The 24-hour low was $0.0000007. Total volume traded amounted to 140,113.0, with a notional turnover of $0.10 (based on 15-minute OHLCV data). The pair remains range-bound, with no breakout confirmed.

Structure & Formations

The price action for CHRBTC displayed a narrow consolidation pattern over the last 24 hours, with a high of $0.00000073 and a low of $0.0000007. A key support level appears to be forming near $0.0000007, where price found buying interest multiple times. A bearish engulfing pattern briefly appeared around 22:45 ET but failed to confirm. A doji formed at the daily close, suggesting indecision.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained nearly flat, indicating a lack of short-term direction. Over the daily chart, the 50- and 200-day moving averages have not crossed, reinforcing a sideways trend. The 100-day average also appears aligned with the 50-day, suggesting continued consolidation.

MACD & RSI

The MACD remained near the zero line with a flat histogram, suggesting no immediate directional bias. RSI oscillated around 50 for the majority of the day, indicating a lack of overbought or oversold conditions. The pair lacks conviction, and a sustained move beyond $0.00000073 or below $0.0000007 may signal the next move.

Bollinger Bands

Volatility remained low, with price staying within the Bollinger Bands but avoiding the outer extremes. No significant contraction or expansion was observed, and the bands appear to be acting as a range boundary. Price repeatedly tested the lower band before finding temporary support, a sign that buyers may be cautious near $0.0000007.

Volume & Turnover

Turnover remained low despite multiple price tests near key levels. A modest volume spike occurred at 22:45 ET as price attempted to break above $0.00000072, but it failed to hold. No large volume spikes indicated strong conviction in either direction. The lack of turnover suggests limited participation, which could delay a breakout.

Fibonacci Retracements

Applying Fibonacci to the recent swing from $0.0000007 to $0.00000073, price has retraced to around 38.2%, suggesting a potential area of interest. A move beyond $0.00000073 would test the 61.8% level at $0.00000072. The 38.2% retracement currently acts as a resistance, while $0.0000007 supports further retests.

Backtest Hypothesis

To refine entry signals for CHRBTC, a 3-day-hold RSI-based backtest could be implemented using the default 14-period RSI and 30/70 overbought/oversold thresholds. Given the pair’s recent range-bound behavior, a long signal would be triggered if RSI dips below 30 with a volume spike for confirmation. A short signal would be considered if RSI climbs above 70 with a sharp increase in turnover. If the symbol format is corrected and data is retrieved, the backtest could be run from 2022-01-01 to today, offering insight into the strategy’s robustness.