Market Overview for Immutable/Bitcoin (IMXBTC): 24-Hour Analysis on 2025-10-04

• Price surged to 6.58e-06 before consolidating near 6.44e-06 at 12:00 ET.
• Volatility expanded in the first half of the day, then contracted toward the end.
• A bullish engulfing pattern formed after 17:45 ET, but bearish pressure resurged after 00:00 ET.
• RSI remained in mid-range, indicating neither overbought nor oversold conditions.
• Turnover spiked during key resistance tests and faded during consolidation.

Immutable/Bitcoin (IMXBTC) opened at 6.03e-06 on 2025-10-03 at 12:00 ET, surged to a high of 6.61e-06, and closed at 6.44e-06 at 12:00 ET. Total volume reached 813,396.82, while total turnover amounted to 5,050.88. The pair showed strong bullish momentum early in the session, forming multiple higher highs before consolidating toward the close.

Structure & Formations

The price chart displayed multiple key support and resistance levels during the 24-hour period. A strong resistance zone formed between 6.56e-06 and 6.58e-06, where price tested the upper boundary multiple times but failed to break through. Conversely, a support level was established around 6.44e-06, with the price bouncing off this level on several occasions. A bullish engulfing candle emerged after 17:45 ET, signaling a potential reversal in sentiment, but bearish pressure returned late in the session, forming a key bearish harami pattern after 03:30 ET, which may indicate a possible pullback.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish divergence for most of the session, with the 20SMA staying well above the 50SMA. However, after 04:00 ET, the 20SMA crossed below the 50SMA, indicating a potential shift in momentum. The RSI remained in the 50–60 range for much of the session, avoiding overbought or oversold territory, suggesting a relatively balanced market. The MACD showed a bullish crossover in the early hours but began to trend lower as the session progressed, potentially signaling weakening momentum.

Volatility and Turnover

The Bollinger Bands expanded significantly between 17:00 and 19:00 ET, reflecting increased volatility during that period. Price consistently traded within the band boundaries, but approached the upper band multiple times without breaking through, suggesting resistance. Volume was notably higher during the bullish thrusts, particularly between 17:00 and 19:00 ET, with large notional turnover confirming the strength of those moves. Later in the session, however, volume declined, and price began to consolidate, indicating waning conviction.

Fibonacci Retracements

Fibonacci levels drawn from the 17:00–19:00 ET swing showed key retracement levels at 6.47e-06 (38.2%) and 6.42e-06 (61.8%). Price held above the 61.8% level during much of the session, suggesting strong support in that area. Later in the day, a pullback tested the 61.8% level and found support again, reinforcing its significance.

Backtest Hypothesis

A potential backtest could be based on the convergence of bullish candlestick patterns and strong volume. For instance, a long entry could be triggered when a bullish engulfing pattern forms and the volume spikes above a 20-period moving average. A stop-loss might be placed below the nearest support level identified via Fibonacci retracements, while a take-profit could be set at the 61.8% or 78.6% extension levels. Given the recent behavior of IMXBTC, this strategy appears to have had some success during the 17:00–19:00 ET period, when both price and volume aligned. Testing this approach over multiple sessions could reveal whether it holds under varying market conditions.