Market Overview for JSTBTC on 2025-10-22

• The JSTBTC pair showed minimal price movement around 3.1e-07, with low volatility and limited volume spikes.
• No clear candlestick patterns emerged, and the price remained flat near key support/resistance levels.
• Momentum indicators suggest weak buying or selling pressure, and RSI is neutral.
• Bollinger Bands constricted, indicating consolidation with no sign of a breakout.
• High-volume activity was observed in the late evening (ET), but failed to move the price.

At 12:00 ET on 2025-10-22, JSTBTC opened at 3.1e-07, with a high of 3.2e-07 and a low of 2.9e-07 during the previous 24 hours. The price closed at 3.1e-07. Total trading volume across the 24-hour window reached approximately 18,165,443.0 JST, and notional turnover remained minimal due to the low price level.

Structure & Formations

The JSTBTC pair remained in a narrow range for most of the 24-hour period, with price consolidating between 2.9e-07 and 3.1e-07. No distinct candlestick patterns like engulfing or doji emerged to signal a potential reversal or continuation. The price tested the 3.1e-07 level multiple times but failed to break higher or lower with conviction, suggesting the presence of a psychological support or resistance cluster in this range.

Moving Averages

On the 15-minute chart, the 20 and 50-period moving averages were closely aligned, indicating no significant directional bias. Over the daily timeframe, the 50- and 100-day moving averages also showed convergence, reinforcing a neutral outlook. The price remained within the 200-day average range, with no clear separation suggesting a trend.

MACD & RSI

The MACD histogram and signal line were near zero, reflecting a lack of momentum. RSI lingered around the 50 level, confirming the absence of overbought or oversold conditions. The indicators suggest that the market is in a state of equilibrium, with traders waiting for a catalyst to drive the price in either direction.

Bollinger Bands

Bollinger Bands narrowed significantly during the early hours, pointing to low volatility and consolidation. The price remained close to the middle band for most of the day, and there were no meaningful expansions of the bands to indicate an imminent breakout. This pattern suggests traders are in a holding pattern, with limited conviction on either side.

Volume & Turnover

Volume activity was concentrated in the late evening and early morning hours (ET), with the largest trades occurring around 20:30 ET. Notional turnover, however, remained limited due to the small price level (e.g., 3.1e-07 BTC per JST). The lack of price movement despite higher volume in these periods suggests either thin liquidity or a lack of directional consensus among participants. No divergences between price and volume were observed.

Fibonacci Retracements

Applying Fibonacci retracement levels to recent 15-minute swings showed the price consolidating near the 61.8% retracement level, which acted as a temporary support. On the daily chart, the 38.2% and 61.8% retracement levels coincided with the 3.1e-07 and 2.9e-07 ranges, respectively. The price remained in a tight range around these levels, suggesting a potential test of support or resistance in the coming 24 hours.

Backtest Hypothesis

To proceed with a meaningful backtest, we must define a precise technical rule to identify “support level” events. Based on the observed data, a well-defined and actionable rule could be: “a daily close ≤ 20-day rolling minimum.” This approach would help identify periods when the price tested historical lows, potentially indicating support areas. Using this rule, we can systematically analyze past behavior and test the effectiveness of a strategy based on such events. If this aligns with your goals, we can implement the backtest using this criterion. Alternatively, if you have a specific set of dates for support tests, we can use those directly for validation.