Market Overview for Orchid/Bitcoin (OXTBTC) – 24-Hour Summary

Summary
• OXTBTC opened at 3e-07 and closed at 3.3e-07 after a mixed 24-hour session.
• Price tested 3.3e-07 and 3.2e-07 as key resistance and support, with no breakout.
• Low volume during most of the session limited price movement and volatility.
• Final 15-minute candles showed consolidation at 3.3e-07 ahead of 12:00 ET close.

The Orchid/Bitcoin (OXTBTC) pair opened at 3e-07 on 2025-11-06 at 12:00 ET and closed at 3.3e-07 on 2025-11-07 at the same time. The 24-hour high and low were 3.4e-07 and 3e-07, respectively. Total traded volume was approximately 1.1 million units, while notional turnover remained relatively flat given the low price movement.

Price action over the 24-hour period was characterized by sideways consolidation around 3.3e-07. A brief attempt to break above 3.4e-07 occurred in the morning but failed due to lack of follow-through volume and momentum. A notable bearish reversal candle formed at 10:30 AM ET on November 7, where price opened at 3.4e-07 and closed at 3.3e-07 after testing a short-lived high. This candle suggests a lack of conviction in bullish sentiment at higher levels.

The 20-period and 50-period moving averages on the 15-minute chart closely aligned for most of the session, indicating a lack of clear trend direction. MACD remained below zero for the entire period with no clear divergence from price, suggesting weak momentum. RSI lingered between 40 and 55, signaling a balanced market with no clear overbought or oversold conditions. Bollinger Bands showed limited expansion, with price staying within the bands and no signs of a volatility breakout.

Structure & Formations

Key support was observed around 3.2e-07, where price repeatedly found buyers during periods of downward pressure. Resistance at 3.3e-07 was tested multiple times, with the first successful close above it occurring at 23:30 ET on November 6, followed by a retest and consolidation. A doji formed at 10:30 AM ET on the 7th, indicating indecision between buyers and sellers.

Volume & Turnover

Trading volume spiked during the 19:00–20:00 ET and 23:00–00:00 ET periods, with the largest notional turnover observed in the 19:00 ET candle, where 170,079 units were traded. This period also saw a bullish candle with a long upper wick and a short lower wick, indicating aggressive buying followed by profit-taking. However, volume subsided sharply after 22:00 ET, suggesting a lack of follow-through from late buyers.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 3.2e-07 to 3.4e-07 move, price tested the 61.8% level at approximately 3.3e-07 twice, once on the upside and again on the downside. The 38.2% level at 3.31e-07 also acted as a minor area of consolidation, but without clear follow-through. These retracements highlight key psychological levels that could influence near-term price action.

Backtest Hypothesis
The candlestick pattern described—specifically a bearish reversal candle at 10:30 AM ET—can be backtested as a potential sell signal. To proceed, I will need confirmation of the correct exchange and ticker (e.g., BINANCE:OXTBTC) and the preferred exit rule (e.g., sell at next day’s close or hold for N days). Assuming daily close data is acceptable, the backtest would test how this pattern performed from 2022-01-01 to the present, using close price for entry and exit calculations.