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Summary
• Price tested a key support at 1.16e-6, bouncing back with volume confirmation.
• Momentum remains mixed; RSI hovering near neutral.
• Volatility appears compressed, with price consolidating within Bollinger bands.
• A bearish engulfing pattern formed at 1.19e-6, suggesting potential reversal risk.
• Turnover remained muted despite moderate price range, indicating weak conviction.
Market Overview
At 12:00 ET–1, Flux/Bitcoin opened at 1.19e-6, reached a high of 1.19e-6, and a low of 1.15e-6, closing at 1.16e-6. Total volume for the 24-hour window was 282,831.59, with turnover amounting to 0.316049 BTC.
Structure and Formations
Price action over the past 24 hours showed a bearish consolidation pattern, forming a small-range channel between 1.15e-6 and 1.19e-6.

Technical Indicators
RSI remained in the neutral range, suggesting no immediate overbought or oversold conditions. MACD showed a shrinking histogram, indicating weakening momentum. Bollinger Bands were narrow for much of the period, suggesting compressed volatility with a potential breakout pending.
Volume and Turnover
Volume spiked notably during the 17:30 ET candle as price broke below 1.19e-6, reaching 1.16e-6. However, turnover remained proportionally low, indicating that while volume was present, conviction behind the move was limited. Divergence between volume and price action was observed in the early morning hours when price drifted higher without strong volume support.
Forward Outlook
Price may remain range-bound in the near term unless a breakout above 1.19e-6 or breakdown below 1.16e-6 occurs with strong volume. Traders should remain cautious for increased volatility if
Risk Consideration
A break of the 1.16e-6 support level could trigger a retest of 1.15e-6 with increased bearish bias. Investors should monitor for confirmation before taking directional positions.
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