Market Overview for MyShell/Bitcoin (SHELLBTC) – 24-Hour Summary

• SHELLBTC posted a slight 0.11% gain on the day amid choppy intraday action.
• Volatility remained muted, with a 15-minute range of 0.11% and no clear trend.
• Key resistance near 9.4e-07 held during the session, while support at 9.1e-07 was tested twice.
• Volume was concentrated in midday activity, with a 14,582-unit candle suggesting accumulation.
• MACD flattened while RSI hovered near neutral; no clear overbought or oversold signals.

MyShell/Bitcoin (SHELLBTC) opened at 9.1e-07 on 2025-10-25 12:00 ET and closed at 9.3e-07 by 12:00 ET on 2025-10-26. The pair reached a high of 9.7e-07 and a low of 9.1e-07 during the period, with total 15-minute volume of 496,990.2 units and a notional turnover of 472.76 (using 1 Bitcoin as a proxy for the base unit). Price remained in a tight range for most of the session, with limited directional momentum.

Structurally, SHELLBTC traded in a well-defined 9.1e-07–9.7e-07 channel throughout the 24-hour period. A strong resistance at 9.4e-07 and a key support at 9.1e-07 were both tested multiple times. Notable patterns included a bullish engulfing candle at 04:15 ET and a hammer at 06:30 ET, both indicating possible short-covering and bullish sentiment. A doji at 09:15 ET marked a pause in buying pressure.

Moving averages on the 15-minute chart saw the price oscillating around the 20-period MA (9.32e-07) and 50-period MA (9.26e-07). On the daily chart, the 50-day MA was at 9.2e-07 and the 200-day MA at 9.15e-07, indicating a neutral to slightly bullish bias in the longer term. However, no clear crossover or divergence emerged in the 24-hour window to confirm a trend.

MACD flattened toward zero, reflecting balanced bearish and bullish momentum. RSI remained in the mid-50s range for most of the session, with a slight dip toward 45 in late afternoon, hinting at moderate oversold conditions. Bollinger Bands showed a slight expansion during peak volume periods, particularly around 19:30 and 04:15 ET, with price settling near the upper band at those times. No significant breakouts or contractions were observed.

Volume and turnover saw notable spikes at 19:30, 04:15, and 06:30 ET, where price advanced on strong volume. These spikes correlated with bullish candle formations, suggesting accumulation rather than distribution. However, a divergence appeared in the final hours, where volume declined while price remained firm, signaling potential exhaustion. Turnover mirrored volume patterns, with total notional value concentrated in the midday to early morning hours.

Fibonacci retracement levels drawn from the 9.1e-07 to 9.7e-07 swing highlighted key retracement levels at 9.3e-07 (61.8%) and 9.2e-07 (38.2%). Both levels acted as psychological barriers and were tested multiple times. No breakouts occurred during the session, and price settled just below the 61.8% level, suggesting a possible consolidation phase ahead.

Bollinger Bands and MACD indicators suggest a sideways consolidation pattern, with no strong directional bias. RSI and volume profiles support a continuation of range-bound behavior. Traders may consider a breakout or reversal setup near the 9.4e-07 and 9.1e-07 levels for potential short-term opportunities. However, a lack of clear momentum and divergences in the latter part of the session highlight the risk of a pullback or consolidation.

Backtest Hypothesis
The bullish engulfing pattern observed at 04:15 ET could serve as a potential entry trigger for a backtesting strategy. Given the neutral RSI and MACD conditions, a fixed holding period of 5 trading days may be appropriate for testing. Entering at the open following the candle and exiting after 5 days could help assess the pattern’s effectiveness in this range-bound context. A trailing stop or profit target could further refine the strategy, but a simple exit rule is recommended to maintain clarity.