Market Overview for JUST/Bitcoin (JSTBTC) – 2025-09-22

• JSTBTC consolidates near 2.8e-07 with limited 24-hour range of 1.36%.
• Price failed to break key resistance at 3.0e-07 during early morning spike.
• High volume surges noted at 2.8e-07–3.0e-07 cluster.
• RSI remains neutral, suggesting no immediate overbought or oversold conditions.
• Volatility is subdued with price clustered tightly in Bollinger Bands.

Opening Snapshot

At 12:00 ET–1 on 2025-09-21, JUST/Bitcoin (JSTBTC) opened at 2.9e-07 and traded between 2.8e-07 and 3.0e-07 throughout the day. The 24-hour session closed at 2.9e-07 at 12:00 ET on 2025-09-22. Total volume reached 1.43 million units, while notional turnover was approximately 0.409 BTC, indicating moderate on-chain activity.

Structure & Formations

The pair remained in a tight consolidation pattern, with price hovering near 2.8e-07–2.9e-07. A notable bullish breakout attempt occurred at 02:45 ET, where the price briefly hit 3.0e-07 but failed to hold above the level. A doji formed at that hour, suggesting indecision among traders. Support appears to be forming at 2.8e-07, which held during a bearish attempt at 05:00 ET.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart are closely aligned near 2.9e-07, indicating a lack of clear trend. On the daily chart, the 50-period MA sits slightly above the 200-period MA, but the gap is minimal, signaling a potential flattening of the long-term trend.

MACD & RSI

MACD has remained flat with no clear divergence, indicating a lack of directional momentum. RSI hovered around the 50 level for most of the day, suggesting no immediate overbought or oversold conditions. However, the RSI did briefly dip below 50 during the 05:00 ET bearish attempt, hinting at potential short-term pressure.

Bollinger Bands

Volatility remained subdued, with price staying near the middle band for most of the session. The narrowest contraction occurred between 16:00 ET–20:00 ET when the price barely moved. The breakout at 02:45 ET saw a moderate expansion but was quickly reversed.

Volume & Turnover

Volume spiked at 02:45 ET during the attempted breakout and again at 05:00 ET as the price tested 2.8e-07. However, the follow-through in volume was weak, suggesting the move lacked conviction. The highest notional turnover was observed during the 02:45 ET spike, with over 914,528 units traded at 2.9e-07.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 2.8e-07 to 3.0e-07, the 61.8% level at ~2.936e-07 acted as a minor resistance. The 38.2% level at ~2.912e-07 failed to hold, reinforcing the bearish bias. On the daily chart, the 38.2% retracement from the prior bearish leg has held as support near 2.8e-07.

Backtest Hypothesis

The backtest strategy described relies on detecting breakout failures using volume and price action. The doji and weak follow-through volume seen at 02:45 ET and 05:00 ET align closely with such a hypothesis. In a 20-day backtest scenario, a short bias could be triggered after a failed breakout above key resistance with volume divergence. However, the tight clustering of price and volume suggests a low-probability event for either side.