Market Overview for Alchemy Pay/Bitcoin (ACHBTC)

• Price remained flat near 1.7e-07 for most of the 24-hour period.
• A minor bearish move occurred in the 16:30 ET candle with a drop to 1.6e-07.
• Volume activity was negligible for the majority of the session.
• Turnover saw minimal spikes, with only a few candles recording above 5,000 volume.
• No strong momentum was observed in RSI or MACD.

At 12:00 ET on 2025-09-16, the 24-hour candle for ACHBTC opened at 1.7e-07, hit a high of 1.7e-07, a low of 1.6e-07, and closed at 1.7e-07. Total volume amounted to 34,255, and total turnover was 5.772e-03 BTC.

Structure & Formations

The ACHBTC pair remained highly consolidated throughout the session, with price hovering between 1.6e-07 and 1.7e-07. A key bearish signal appeared in the 16:30 ET candle, which showed a clear open at 1.7e-07 and a close at 1.6e-07. This candle resembles a bearish spinning top, indicating indecision. No strong reversal patterns like hammers or engulfing patterns were observed.

Support and Resistance

The immediate support appears to be at 1.6e-07, while the key resistance remains at 1.7e-07. The price appears to be consolidating between these two levels, with no clear breakout observed during the 24-hour window.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are nearly overlapping and remain flat at around 1.7e-07. On the daily chart, the 50/100/200 moving averages are also flat, showing no clear directional bias. The price is currently aligned with these moving averages, suggesting no immediate momentum or divergence.

MACD & RSI

The MACD histogram has shown minimal movement, with both the line and signal line flat near zero. The RSI is around 50, indicating neutrality with no signs of overbought or oversold conditions. No significant divergence has emerged between price and these indicators, suggesting a continuation of the current sideways trend.

Bollinger Bands & Volatility

Bollinger Bands remain narrow, indicating low volatility. The price is trading near the midline of the bands most of the time, confirming the consolidation phase. A potential breakout could occur if the price moves above the upper band (1.7e-07) or below the lower band (1.6e-07).

Volume & Turnover

Volume was minimal for most of the session, with only three candles recording volume above 5,000. The highest volume occurred at 21:15 ET and 07:30 ET, but no significant price movement followed these spikes. Turnover was similarly muted, with no divergence between volume and price movement observed.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 1.6e-07 to 1.7e-07, the 38.2% and 61.8% levels coincide closely with the price range of 1.668e-07 and 1.64e-07 respectively. The price has been trading near the 50% retracement level of 1.65e-07, suggesting it may test either of the 38.2% or 61.8% levels in the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy for ACHBTC could involve using Fibonacci retracement levels in conjunction with the 50-period moving average. The idea is to enter long positions when the price retests the 38.2% Fibonacci level and stays above the 50-period MA, or short when it breaks below the 61.8% level and remains below the 50-period MA. This approach would be complemented by RSI to confirm overbought/oversold levels, reducing false signals. Given the low volatility and flat price action, this strategy may perform better in a trending market rather than in consolidation.