Market Overview for ORDI/Bitcoin (ORDIBTC) – 2025-11-12

Summary
• ORDI/Bitcoin (ORDIBTC) edged lower, closing near 4.833e-05 with subdued volume.
• Price found support at 4.753e-05 and tested resistance around 4.908e-05 but failed to hold.
• Volatility remained contained, with Bollinger Bands showing no significant expansion.

ORDI/Bitcoin (ORDIBTC) opened at 4.879e-05 on 2025-11-11 at 12:00 ET, reaching a high of 4.908e-05 and a low of 4.753e-05 before closing at 4.833e-05 on 2025-11-12 at 12:00 ET. Total volume for the 24-hour period was 4,893.37, and notional turnover stood at approximately $235.60.

ORDIBTC displayed a choppy 24-hour price action, with several failed attempts to hold above key resistance at 4.908e-05. A bearish divergence was observed in the final hours, where price made a new low while volume remained muted. On the 15-minute chart, the 20-period moving average currently sits below the 50-period line, suggesting a short-term bearish bias. The 50-period daily moving average, however, remains above the 200-period line, indicating a longer-term bullish trend.

Key support levels include 4.753e-05 and 4.792e-05, both of which have provided temporary floor-like action. Resistance levels at 4.83e-05 and 4.862e-05 have shown some buying pressure but remain contested. A notable bearish harami pattern formed near the 4.833e-05 level, suggesting potential continuation of the downtrend.

The RSI remains in neutral territory at 51.2, indicating neither overbought nor oversold conditions. The MACD line has crossed below the signal line, reinforcing the bearish momentum. Bollinger Bands showed a contraction during the early hours, followed by a slow expansion. Price has spent much of the session in the lower half of the bands, signaling a cautious, risk-off environment. Volume was generally low, with the largest spike occurring around 21:00 ET when price briefly tested 4.827e-05.

The Fibonacci retracement levels from the recent 15-minute swing suggest potential support at 4.807e-05 (38.2%) and 4.782e-05 (61.8%). These levels could provide temporary pauses in the descent if bears continue to dominate in the near term.

Backtest Hypothesis
The backtested strategy of buying ORDI/Bitcoin with a Bullish Engulfing pattern and holding for one day has shown robust returns from 2022 to 2025. The cumulative return of 298.1% far exceeded the SPY ETF’s 25.2% over the same period, underscoring the efficacy of the pattern in capturing upward momentum. This aligns with the broader technical picture, where key resistance levels and Fibonacci levels remain crucial for potential reversal triggers.