Market Overview for Cartesi/Bitcoin (CTSIBTC) – October 23, 2025

• The 24-hour range for CTSIBTC was stable between $4.7e-07 and $4.9e-07, with no clear directional bias.
• Price remained in a narrow consolidation phase, with minimal volume and no notable candlestick patterns emerging.
• Volatility and momentum indicators showed little movement, suggesting low conviction in buyer or seller activity.
• Key support and resistance levels remained intact, with no decisive breakouts observed.

The Cartesi/Bitcoin pair (CTSIBTC) opened at $4.9e-07 on October 22 at 12:00 ET and closed at $4.8e-07 on October 23 at 12:00 ET, remaining within a narrow range of $4.7e-07 to $4.9e-07 over the 24-hour period. Total volume across the window was approximately 722,299.0, with a notional turnover of roughly $337.35. The pair exhibited very low liquidity and minimal price movement, with the majority of candlesticks forming doji or flat-bodied structures, indicating indecision among traders.

Structure and formations were largely non-eventful. The pair remained within a tight range, with the key support at $4.7e-07 and resistance at $4.9e-07 holding firm throughout the 24-hour window. No significant bearish or bullish engulfing patterns were detected, and while doji were common, they lacked follow-through in the subsequent candles. The price may continue to consolidate within this range unless a catalyst or increased volume triggers a directional shift.

Moving averages were flat to slightly sloping due to the limited range. Short-term (20-period and 50-period) and long-term (100-period and 200-period) moving averages remained aligned with the current price, suggesting no strong trend formation. MACD and RSI indicators also showed minimal divergence, with RSI hovering near the midline and MACD lines crossing back and forth without clear momentum. The pair could remain range-bound unless a more defined bullish or bearish bias emerges.

Bollinger Bands were tightly contracted, signaling low volatility. Price remained near the middle band for the majority of the period, with no meaningful expansion or breakout observed. This suggests traders are waiting for a clearer signal before committing to either side.

Volume and turnover were both subdued, with the highest trading activity occurring around the 23:45 and 08:45 ET hours, when the price briefly moved from $4.7e-07 to $4.9e-07. Despite these spikes, the volume did not result in a breakout, indicating a lack of conviction. Price and turnover aligned without significant divergence, suggesting that trading activity reflected genuine demand rather than manipulation.

Fibonacci retracements drawn from the minor intraday high of $4.9e-07 to the low of $4.7e-07 showed the price hovering near the 50% retracement level, which aligns with the current consolidation zone. No strong support or resistance was confirmed at the 38.2% or 61.8% levels. Over the next 24 hours, a move above $4.9e-07 or below $4.7e-07 could signal a breakout, but for now, the pair appears to lack directional intent.

Backtest Hypothesis

Given the presence of doji and the flat-bodied candles, a potential backtesting strategy could involve identifying Bearish Engulfing patterns that might have occurred during the session. These patterns typically signal a shift in momentum and could be used as sell signals when confirmed by a break below the candle's low. However, in this case, no such patterns were detected in the 15-minute OHLCV data, likely due to the minimal price movement and flat candle bodies. The lack of volume spikes further weakens the case for using these patterns as actionable signals. Future testing should consider incorporating volume and RSI divergence as additional confirmation tools to avoid false positives in low-liquidity environments.