Market Overview for COTI/Bitcoin (COTIBTC) on 2025-10-31

• Price remained flat at 2.8e-07 for most of the 24-hour period with minimal movement.
• A small-volume upswing occurred at 17:45 ET, pushing price up to 2.8e-07.
• Volatility remained extremely low throughout, with no clear bullish or bearish momentum.
• No significant candlestick patterns formed, indicating market indecision or low interest.
• A small break in flatness occurred late in the session, but no follow-through occurred.

COTI/Bitcoin (COTIBTC) opened at 2.8e-07 on 2025-10-30 at 12:00 ET and remained largely unchanged throughout the 24-hour window, closing at 2.8e-07 on 2025-10-31 at 12:00 ET. The pair touched a high of 2.9e-07 and a low of 2.8e-07 during the session. Total trading volume for the 24-hour period was 469,478.0 BTC, with a notional turnover of approximately 1.316 BTC (using COTI/BTC price). The market appeared to lack direction, with price confined to a narrow range and limited participation.

Structure & Formations

The 15-minute OHLCV data showed a nearly flat price range for most of the session, with minimal deviation between opens, closes, highs, and lows. This pattern suggests a lack of conviction in either buyers or sellers, with the pair likely trapped in a quiet consolidation phase. A brief breakout occurred in the hour leading up to midnight, where price reached 2.9e-07, but no follow-through was seen. This event may signal a minor attempt to break the range but failed to generate momentum. No clear candlestick patterns such as dojis or engulfings emerged, reinforcing the idea of low volatility and market inaction.

Moving Averages and Bollinger Bands

Applying a 20-period and 50-period moving average to the 15-minute chart revealed that price remained well below both indicators, highlighting the bearish bias. The Bollinger Bands constricted throughout the session, indicating a period of low volatility and potential for a breakout or breakdown. Given the flat price action, the bands remained very close together, suggesting traders were waiting for a catalyst to break the range. At the current juncture, price sits near the lower band on a few occasions but does not cross it, indicating a potential oversold condition. However, without volume support, this signal carries limited weight.

MACD and RSI

The MACD line and signal line remained flat throughout the session, with the histogram showing no divergence, suggesting no shift in momentum. The RSI oscillated around the 50 level, indicating a neutral market without overbought or oversold conditions. This suggests traders are not positioning in either direction with confidence. A minor increase in the RSI occurred late in the session, coinciding with the slight price rise, but it failed to sustain above 50. Taken together, these indicators suggest a lack of directional bias with no immediate catalyst expected to shift sentiment.

Volume & Turnover

Volume and turnover were largely flat throughout the 24-hour period, with the most notable spike occurring at 17:45 ET, where over 175,000 COTI was traded at 2.8e-07. This volume, however, did not lead to a sustained move, indicating a failed attempt to rally. The lack of follow-through from that point onward further underscores the lack of conviction in the market. Overall, the low volume and turnover suggest that liquidity is minimal, and any large orders are likely to move the price significantly in either direction. Price and volume were aligned in that period, but the lack of sustained volume undermined the signal.

Fibonacci Retracements

Applying Fibonacci levels to the most recent 15-minute swing from 2.8e-07 to 2.9e-07, the 38.2% retracement level is at 2.8e-07, and the 61.8% level is at 2.8e-07 as well, due to the minimal movement. On the daily chart, the recent swing from the high of 2.9e-07 to the low of 2.8e-07 shows a similar flattening. The price currently resides at or near these levels, suggesting a lack of strong directional bias. Given the low volatility, any move beyond the 61.8% retracement would be more meaningful than the current range, but until that occurs, the Fibonacci levels offer little in terms of actionable information.

Backtest Hypothesis

In evaluating potential backtest strategies, one approach would be to scan for the presence of a Bullish Engulfing pattern in historical COTIBTC price data. A Bullish Engulfing is a reversal signal where a large bullish candle follows a small bearish one, indicating a potential shift in sentiment. However, the attempt to retrieve this data encountered an issue with the vendor, possibly due to symbol misalignment or lack of data availability. To proceed, the correct exchange-specific symbol (e.g., “COTI-BTC”) would need to be identified or a different pair (e.g., “COTIUSDT”) could be used. Once the correct data is available, a 3-day holding period backtest can be executed to assess the historical profitability of the pattern from 2022-01-01 to 2025-10-31.