Market Overview for Numeraire/Bitcoin (NMRBTC) – 24-Hour Analysis

Summary
• Price dropped sharply after a strong early session high, forming bearish patterns.
• Volume surged during the downward leg, confirming bearish momentum.
• Bollinger Bands and RSI suggest oversold conditions, but momentum remains bearish.

Numeraire/Bitcoin (NMRBTC) opened at 0.0001142 and reached a high of 0.0001142 before falling to a low of 0.0001086, closing at 0.0001089 as of 12:00 ET. The total traded volume over the 24-hour period was 1,364.62, with a notional turnover of approximately 0.155 BTC.

Over the past 24 hours, NMRBTC has formed a bearish reversal pattern after a sharp decline from its intraday high. The move to the downside was accompanied by increasing volume, especially between 20:30–21:00 ET, which reinforced the bearish bias. A series of lower highs and lower lows suggests the market is in a short-term downtrend. The formation of a bearish engulfing pattern and a potential bearish harami during the decline indicates that sellers are in control.

The 15-minute 20-period and 50-period moving averages have crossed to the downside, suggesting a strengthening bearish bias. The MACD line has turned negative, while the signal line has crossed above it, forming a bearish crossover. RSI has fallen below 30, entering oversold territory, though this alone may not trigger a reversal unless there is a clear reversal pattern and volume confirmation. Bollinger Bands have widened, indicating increased volatility, and the price remains near the lower band, reinforcing the bearish setup.

Fibonacci retracements on the most recent 15-minute swing (0.0001142–0.0001086) show key levels at 0.0001114 (38.2%) and 0.0001099 (61.8%). These levels could serve as potential support or trigger points for short-term bounces. A breakdown below 0.0001086 may test the next level of support.

Backtest Hypothesis
To generate actionable RSI-based signals for NMRBTC, I need the exact ticker symbol that corresponds to the data provider’s format. For example, if the symbol is BINANCE:NMRBTC or KUCOIN:NMR-BTC, I can extract the RSI data and backtest a strategy that buys when RSI drops below 30 and holds for three days. This approach could be extended from 2022-01-01 to today for performance evaluation. Clarifying the correct symbol or quote currency (e.g., NMRUSDT) will allow for a robust backtest aligned with the pair’s volatility and structure.