IoTeX/Bitcoin (IOTXBTC) Market Overview – 24-Hour Summary

• Price remained tightly consolidated in a narrow range near 1.1e-07 for most of the 24-hour window.
• A brief dip to 1.0e-07 in early morning ET was followed by a marginal rebound.
• Volume was minimal, with only two spikes reaching over 1M units in the late evening and early morning.
• No strong candlestick reversal patterns observed, though a bearish trend was confirmed by the closing below prior lows.
• No clear overbought or oversold signals from RSI due to limited price movement and data unavailability.

IoTeX/Bitcoin (IOTXBTC) opened at 1.1e-07 on 2025-10-31 12:00 ET, reached a high of 1.1e-07, touched a low of 1.0e-07, and closed at 1.0e-07 on 2025-11-01 12:00 ET. The pair remained within a very tight range, with total volume at approximately 1.38 million IOTX and minimal notional turnover due to the low price base.

The candlestick structure over the last 24 hours reveals a highly compressed price action. Open and close prices have clustered around 1.0e-07 to 1.1e-07, suggesting minimal buying or selling pressure. Notably, the price briefly dipped below 1.1e-07 during the early hours of 2025-11-01, forming a small bearish candle before consolidating again. This lack of movement is reflected in the flat nature of the 15-minute and daily candlesticks, with no discernible bullish or bearish reversal patterns like hammers or engulfing patterns emerging.

Structure & Formations

The price appears to be consolidating within a narrow range bounded by 1.0e-07 and 1.1e-07, with no clear breakouts observed. A few attempts to move lower were met with minimal buying interest, suggesting this is a period of low conviction or liquidity. While no distinct candlestick patterns have formed to indicate a reversal, the inability to maintain higher levels may indicate bearish bias. A potential support level forms at 1.0e-07, and a resistance at 1.1e-07 could act as a ceiling for the next 24 hours.

Moving Averages

The 20 and 50-period moving averages on the 15-minute chart remain largely flat and closely aligned due to the limited price movement. The 50-period line, typically a stronger trend indicator, did not show any divergence from the price. On the daily chart, the 50-period, 100-period, and 200-period moving averages are also tightly grouped, signaling a neutral-to-bearish market condition. A break above the 20-period line on the 15-minute chart could signal a short-term bullish bias, but this would require significantly higher volume and momentum to confirm.

MACD & RSI

The MACD has remained flat and near zero, with the histogram shrinking and growing in response to the minimal price fluctuations. The lack of a strong signal in either direction indicates a lack of momentum. The RSI is currently unavailable due to a data-source error, but based on the price behavior, it is likely hovering around the mid-50s, suggesting a neutral market. For the RSI to indicate oversold or overbought conditions, a more pronounced move is required, either downward below 30 or upward above 70.

Backtest Hypothesis

To conduct an RSI-based backtest, it is essential to source accurate historical RSI data for the IOTXBTC pair. Given the data-source error encountered, the correct symbol and exchange must be identified. The pair is most commonly traded under BINANCE:IOTXBTC or KUCOIN:IOTX-BTC. Once the correct ticker is confirmed, RSI values can be extracted to detect historical "oversold" conditions (RSI < 30) and test the efficacy of a long-biased strategy between 2022-01-01 and today. This would involve evaluating how frequently the pair rebounded after RSI entered oversold territory and whether those entry points yielded positive returns over the following days.