LayerZero/Bitcoin Market Overview

Summary
• Price declined sharply from 1.627e-05 to 1.525e-05, forming bearish momentum.
• RSI indicates oversold conditions, with price near Bollinger Band lower bounds.
• Volumes surged in early morning ET before retreating, suggesting profit-taking.

ZROBTC opened at 1.619e-05 on 2025-11-09 at 17:00 ET and closed at 1.525e-05 the following day at 12:00 ET. The 24-hour range was between 1.627e-05 (high) and 1.5e-05 (low). Total volume across 15-minute intervals was 83,347.26, with a notional turnover of approximately $1.288 (based on Bitcoin value assumption).

Structure & Formations

Price action revealed a sharp bearish breakdown from 1.627e-05, forming a key support at 1.57e-05 which failed to hold. A series of lower lows and bearish engulfing patterns emerged in the early morning ET, signaling bearish control. A doji appeared near 1.53e-05, hinting at indecision and potential short-term reversal.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, reinforcing bearish momentum. Daily charts indicate the price is below both the 50 and 200-day moving averages, placing ZROBTC in a medium-term downtrend.

MACD & RSI

MACD turned negative mid-day, with a bearish crossover in the afternoon. RSI dropped to the 20-25 range during the final hours, suggesting oversold conditions. However, without a bounce above 1.55e-05, the RSI could remain in oversold territory for several periods.

Bollinger Bands

Volatility expanded significantly as price touched the lower Bollinger Band at 1.5e-05. This expansion suggests heightened market anxiety. Price remains near the lower band, which may offer a short-term floor before a potential rebound.

Volume & Turnover

Volume spiked sharply in the 04:15–05:30 ET window as price dropped from 1.604e-05 to 1.57e-05, confirming bearish conviction. However, a divergence occurred between declining price and lower volumes after 07:00 ET, suggesting exhaustion.

Fibonacci Retracements

A key 61.8% Fibonacci retracement level lies at 1.53e-05, currently acting as a temporary support. A break below that could target 1.50e-05, while a retest of 1.57e-05 may trigger a short-term bounce.

Backtest Hypothesis

To test this pair using the provided backtesting strategy, the focus would be detecting Bearish Engulfing patterns on the 15-minute chart. ZROBTC exhibited several such formations during the session, particularly between 04:15–05:45 ET. These signals would trigger short positions, with a fixed 5-day hold period. Including stop-loss or take-profit parameters could enhance risk management, particularly given the observed volatility.