Market Overview for Chromia/Bitcoin (CHRBTC) – 2025-10-29

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Wednesday, Oct 29, 2025 6:02 pm ET2min read
Aime RobotAime Summary

- CHRBTC traded in a narrow range with no clear bias, opening and closing at $6.3e-07 on 2025-10-29.

- Volume spiked sharply during 23:45–00:00 ET, pushing the pair to $7.0e-07 before consolidating near Bollinger Bands.

- RSI and MACD showed neutral momentum, with price failing to break resistance at $6.8e-07 despite a bullish engulfing pattern.

- A proposed trading strategy suggests long entries on bullish candlestick patterns, with exits via bearish signals, though no strong directional bias emerged.

• CHRBTC traded in a narrow range with no directional bias, opening at $6.3e-07 and closing at the same level.
• Price tested support at $6.1e-07 during the overnight hours before a modest rebound.
• Volume spiked sharply during the 23:45–00:00 ET window, pushing the pair to a high of $7.0e-07.
• RSI and MACD showed no significant momentum, suggesting continuation of the consolidation phase.
• Volatility remained low, with price hovering near the middle of Bollinger Bands for most of the session.

The Chromia/Bitcoin (CHRBTC) pair opened at $6.3e-07 at 12:00 ET–1 on 2025-10-29 and closed at the same level by 12:00 ET, with a high of $7.0e-07 and a low of $6.1e-07. Total volume over the 24-hour period was 1,017,374.0, while notional turnover amounted to $679.50. Despite a brief spike in price action during the 23:45–00:00 ET window, the pair remained range-bound throughout the day.

Structure and formations suggest a continuation of a consolidation phase. Support emerged briefly at $6.1e-07, with a small bearish close after a test of this level, but the price rebounded without a breakout. Resistance at $6.8e-07 was approached multiple times but failed to be breached, indicating lack of conviction in either direction. A key 15-minute bullish engulfing pattern emerged at 23:15–23:30 ET, which briefly pushed the pair above $6.7e-07, but it did not lead to a sustained move higher.

Moving averages on the 15-minute chart showed a flat profile with no clear bias. The 20-period EMA and 50-period EMA remained closely aligned near the $6.5e-07–$6.6e-07 range. On the daily chart, price hovered below the 50-period SMA, suggesting ongoing bearish bias for the longer term. This divergence between short- and long-term signals indicates uncertainty in the near-term direction for CHRBTC.

The RSI remained in the 40–60 range throughout the session, indicating a balanced market with no overbought or oversold conditions. The MACD remained below zero, with the signal line lagging slightly, reinforcing the lack of momentum. Bollinger Bands showed a moderate contraction in the early hours, followed by a mild expansion during the overnight session. Price generally remained within the bands, with no significant deviation suggesting a continuation of the sideways trend. While no strong reversal signals emerged, the 61.8% Fibonacci retracement level at $6.6e-07 could act as a temporary magnet for buyers.

Backtest Hypothesis
Given the current lack of clear directional bias and the presence of a 15-minute bullish engulfing pattern during the overnight session, a potential trading strategy could involve entering long on confirmation of bullish patterns (e.g., Bullish Engulfing, Hammer, or Piercing Line) with a trailing stop loss. Exit signals may be derived from bearish patterns such as Bearish Engulfing, Dark Cloud Cover, or Shooting Star. While no bearish engulfing pattern occurred in the data provided, incorporating a broader set of bearish candlestick signals would improve the robustness of the backtest. This approach could then be tested using historical data from 2022-01-01 to 2025-10-29 to evaluate profitability and risk-adjusted returns.