Market Overview: Alchemy Pay/Bitcoin (ACHBTC) on 2025-11-01

• Alchemy Pay/Bitcoin (ACHBTC) traded in a narrow range near 1.10e-7 with minimal price movement and turnover.
• No significant bullish or bearish momentum observed; RSI and MACD showed flat readings.
• Volume remained nearly non-existent throughout the 24-hour period.
• Price remained compressed near its daily low and failed to break out of a consolidation pattern.
• Bollinger Bands indicated low volatility, with price hovering at the lower boundary.

Opening Snapshot

Alchemy Pay/Bitcoin (ACHBTC) opened at 1.10e-7 on 2025-10-31 16:00 ET, reached a high of 1.20e-7, and closed at 1.10e-7 at 12:00 ET on 2025-11-01. The total volume traded was 187,617.0, and notional turnover remained negligible due to the extremely low price level. The pair showed no directional bias, with price action confined in a narrow range.

Structure & Formations

Price action over the 24-hour period displayed minimal movement, with candlesticks forming small, compressed bodies. No significant support or resistance levels were identified due to the absence of price discovery. The only notable movement occurred at 17:45 ET on 2025-10-31, where price briefly advanced to 1.20e-7 before retracting. A small bearish candle with a high volume of 70,944.0 marked the peak, but no follow-through was observed.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart clustered closely around the price range of 1.10e-7. Long-term averages (50/100/200) for daily data similarly aligned with the same price level. This suggests a lack of directional bias and a continuation of the consolidation phase.

MACD & RSI

The MACD histogram remained flat, indicating no momentum in either direction. The RSI registered in the mid-50 range for the entire period, signaling a lack of overbought or oversold conditions. While RSI did not show extreme readings, the flat trend confirmed the sideways action and weak conviction from market participants.

Bollinger Bands & Volatility

Bollinger Bands reflected extremely low volatility, with the price remaining at the lower band for most of the 24-hour period. The narrow band width confirmed a lack of price dispersion. No volatility expansion or contraction signals were generated, and no breakout attempts were observed.

Volume & Turnover

Volume activity remained nearly flat throughout the day, with a few minor spikes at 17:00 ET and 02:15 ET, but these had little impact on price. Notional turnover remained consistent with the low price level, showing no divergence or confirmation of price movement. The absence of volume suggested a lack of interest or participation from traders.

Fibonacci Retracements

Applying Fibonacci retracements to the minor 1.10e-7 to 1.20e-7 move showed price retesting the 38.2% and 61.8% levels but failing to sustain above them. This reinforced the bearish bias within the limited range and suggested traders may continue to favor the lower bound as the key reference point.

Backtest Hypothesis

The backtest uses a standard RSI-based strategy with a 14-day period and a 30 oversold threshold. This approach aims to identify potential entry points when the RSI dips into oversold territory, typically signaling a possible short-term rebound. The equity curve and trade records will reveal whether this setup has historical merit for ACHBTC. Investors may consider adjusting the threshold or adding stop-loss parameters to manage risk, especially given the low volatility and volume observed in recent price action. Incorporating a benchmark comparison could further highlight the strategy's relative performance in the current market environment.