Hashflow/Bitcoin (HFTBTC) Market Overview for 2025-09-22

• Price declined from 7.6e-07 to 6.8e-07, signaling bearish momentum.
• Volatility increased sharply as Bollinger Bands widened.
• Volume spiked during the late ET hours, aligning with price declines.
• RSI moved into oversold territory, suggesting potential for a rebound.
• A significant bearish engulfing pattern emerged around 06:15 ET.

Hashflow/Bitcoin (HFTBTC) opened at 7.6e-07 at 12:00 ET-1 and traded as high as 7.6e-07 before closing at 6.8e-07 as of 12:00 ET on 2025-09-22. The total volume over the 24-hour period was 688,128.1, with a notional turnover of $485.23.

The price action over the past day shows a clear bearish bias, marked by a decline of approximately 10.5%. A key bearish engulfing candle formed around 06:15 ET, indicating strong selling pressure. The price then remained below the 20-period moving average for much of the session, reinforcing the downtrend.

Bollinger Bands expanded significantly, with the price closing near the lower band at one point, signaling a potential oversold condition. RSI fell below 30, confirming the oversold territory and hinting at a potential bounce in the near term. The 50-period moving average acted as a key resistance level early in the day before price failed to push above it.

The Fibonacci 61.8% retracement level appears to have played a role in reinforcing the bearish move, with price breaking below this level and continuing lower. Volume and turnover were relatively low for most of the day until a spike occurred in the early ET hours, particularly between 06:00 and 08:00, coinciding with the steepest part of the decline.

Backtest Hypothesis
The observed bearish engulfing pattern at 06:15 ET suggests a short-term reversal could be likely, especially if price finds support near the 6.8e-07 level. A potential long entry could be triggered on a retest of this level with confirmation via a bullish candle and a rising RSI. A backtest could validate this setup by entering a long position on a 1.5% retest of 6.8e-07 with a stop loss placed below the recent swing low of 6.8e-07. Given the high volatility and sharp drop, traders should be cautious and use tight risk management.