Market Overview for iExec RLC/Bitcoin (RLCBTC) on 2025-11-01

• iExec RLC/Bitcoin (RLCBTC) rose from 7.57e-06 to 8.09e-06 in 24 hours, closing near 8.01e-06.
• Price formed multiple bullish reversals on late-night volatility and volume spikes.
• MACD and RSI showed increasing bullish momentum despite choppy intraday action.
• Bollinger Bands widened as price tested 8.09e-06 highs and pulled back toward 7.95e-06.
• Volume spiked over 10,000 during breakout, confirming higher conviction in the trend.

Price Action and Momentum

iExec RLC/Bitcoin (RLCBTC) opened at 7.57e-06 on 2025-10-31 12:00 ET and closed at 8.01e-06 on 2025-11-01 12:00 ET, reaching a high of 8.09e-06 and a low of 7.53e-06. Total volume for the 24-hour period was approximately 33,820.9, with total turnover around 0.269 BTC. The price action displayed a strong upward bias, especially between 09:00 and 11:45 ET, when large-volume bullish candles drove it above 8.00e-06.

Structure and Indicators

Price found support near 7.53e-06, with a strong rejection observed in the early morning. A bullish engulfing pattern formed at 08:45 ET, followed by a strong close near the high in the 09:00–09:15 ET period. The 20- and 50-period moving averages on the 15-minute chart converged to confirm the upward trend. RSI rose into overbought territory (above 70), suggesting exhaustion, while MACD showed a clear golden cross in early morning trading.

Volatility and Fibonacci Levels

Bollinger Bands expanded during the breakout phase, with price testing the upper band at 8.09e-06 before retreating. Fibonacci retracement levels for the recent 7.53e-06–8.09e-06 swing showed key levels at 7.81e-06 (61.8%) and 7.91e-06 (38.2%). Price appears to have pulled back toward the 61.8% level before stabilizing at 8.01e-06, suggesting potential for further consolidation or a short-term reversal.

Volume and Turnover Confirmation

Trading volume surged during the 09:00–10:45 ET window, with the 09:30–10:30 ET period accounting for over 10,000 units of volume. Turnover aligned with these volume spikes, confirming strong conviction in the upward move. However, divergence between price and volume emerged in the 11:45–12:00 ET period, suggesting caution ahead.

Backtest Hypothesis

The MACD golden cross is a potential entry signal for RLCBTC, as it appears to align with key price rebounds and breakout phases. Given the recent 15-minute MACD crossover in early morning trading, and the subsequent confirmation by volume and price, this could be a viable backtesting strategy. The next step is to validate these signals using the correct ticker format (e.g., “RLC_BTC”) to ensure historical consistency. If confirmed, testing this strategy over prior cycles could reveal its efficacy in capturing RLCBTC’s volatile swings.