Market Overview for Heima/Bitcoin (HEIBTC) on 2025-10-09

• Price drifted down by 7.6% over the last 24 hours, closing at 2.72e-06.
• Key support tested at 2.7e-06 after early morning dip; resistance at 2.75e-06 remains intact.
• High volatility seen during 15:00–16:00 ET as price dropped from 2.72e-06 to 2.67e-06.
• Volume surged at 15:00 ET during sharp decline but remained muted otherwise.
• RSI hit oversold territory in the final hour, hinting at potential rebound.

Heima/Bitcoin (HEIBTC) opened at 2.78e-06 on 2025-10-08 at 12:00 ET, hit a high of 2.79e-06, and closed at 2.72e-06 on 2025-10-09 at 12:00 ET. The 24-hour period saw total volume of 32,044.3 and total turnover of 83.825. Price moved in a bearish direction, with a 7.6% decline from the prior open.

Structure & Formations

The 24-hour price action for HEIBTC displayed a bearish bias with a key support level forming around 2.7e-06, which was briefly tested in the afternoon before stabilizing. A morning rally from 2.75e-06 to 2.79e-06 was followed by a sharp reversal, creating a potential bearish engulfing pattern. A doji formed near 2.72e-06, signaling indecision. On the daily chart, key resistance appears at 2.75e-06, while support is seen at 2.67e-06.

Moving Averages

Short-term momentum was bearish, as the 20-period and 50-period moving averages on the 15-minute chart moved lower, reinforcing the downward trend. On the daily chart, the 50-period MA was slightly above the 200-period MA, suggesting a neutral to bearish bias. The price closed below all key moving averages, indicating weak short-term conviction.

MACD & RSI

MACD was negative and trending lower through the session, confirming bearish momentum. The histogram expanded during the mid-afternoon sell-off, reflecting increased bearish pressure. RSI dropped to 28 in the final hour, hitting oversold territory. This could signal a potential rebound but does not confirm reversal.

Bollinger Bands

Bollinger Bands showed moderate volatility with a narrow contraction observed in the early morning, followed by an expansion during the sharp drop in price. The price spent much of the session in the lower band, suggesting bearish dominance. Volatility remains elevated compared to the previous days.

Volume & Turnover

Volume spiked sharply during the 15:00 ET candle, coinciding with a drop from 2.72e-06 to 2.68e-06, suggesting increased selling pressure. Overall volume was unevenly distributed, with much of the turnover occurring during the mid- to late afternoon. Notional turnover was also higher during the same period, supporting the volume action.

Fibonacci Retracements

Fibonacci levels applied to the 15-minute chart identified 2.73e-06 as a potential 38.2% retracement level, and 2.71e-06 as a 61.8% retracement. On the daily chart, the 2.75e-06 level acted as a 38.2% retracement of the previous upward move and showed strong resistance. The price failed to hold above these levels, reinforcing bearish sentiment.

Backtest Hypothesis

The backtesting strategy described assumes a short-term reversal pattern based on RSI entering oversold territory and a bearish engulfing candle. A potential long entry could be triggered at 2.70e-06 with a stop loss placed at 2.68e-06. However, given the recent bearish momentum and the lack of a strong bullish confirmation, the probability of a sustained reversal may be low unless volume increases significantly with bullish conviction.