Market Overview for Peanut the Squirrel/Bitcoin (PNUTBTC)

Summary
• PNUTBTC opened at 1.13e-06 and closed at 1.12e-06 on 2025-11-12.
• The 24-hour low of 1.1e-06 marked a key support area, with a high of 1.18e-06.
• Volume surged to over 137,970 units at the session’s end, while turnover confirmed late-day bearish pressure.

Peanut the Squirrel/Bitcoin (PNUTBTC) opened at 1.13e-06 at 12:00 ET−1 and closed at 1.12e-06 at 12:00 ET on 2025-11-12, with a high of 1.18e-06 and a low of 1.1e-06. Total volume reached 137,970 units, with a corresponding notional turnover that underscored significant bearish sentiment in the final hours.

The price action displayed a bearish consolidation pattern, with multiple 15-minute dojis and a failed attempt to retest the 1.18e-06 high. Key resistance levels appear to be forming near 1.14e-06 and 1.16e-06, while support is consolidating at the 1.1e-06 and 1.09e-06 levels. A potential Bullish Engulfing pattern was observed at 1.13e-06 during the early part of the session, but it failed to hold as prices retreated.

A 20-period and 50-period moving average on the 15-minute chart intersected near 1.13e-06, suggesting a period of trend ambiguity. The RSI moved into oversold territory briefly near 1.1e-06 but failed to generate a strong reversal. Meanwhile, the MACD remained negative throughout the session, reinforcing the bearish tone. Bollinger Bands showed a moderate contraction in the morning, followed by expansion in the afternoon as volatility increased.

The Fibonacci retracement levels of the previous 1.18e-06 to 1.1e-06 move placed 61.8% at 1.11e-06, and the price lingered near that level in the final hours. Notable volume spikes were observed during the late afternoon, with price failing to close above key intraday highs. This divergence between volume and price could suggest a short-term reversal is in the cards, but bearish momentum remains intact for now.

Backtest Hypothesis
To evaluate the performance of a strategy involving buying PNUTBTC on each occurrence of a Bullish Engulfing pattern and holding for five days, we will utilize a structured backtesting approach. This method involves scanning the historical daily OHLC data for the specified candlestick pattern, recording the event dates, and executing the trade signals accordingly. The strategy assumes no leverage or stop-loss and focuses purely on the 5-day holding period. By employing automated tools such as the event backtest engine, we can calculate the average return, win-rate, and distribution of outcomes. The results will provide a clear assessment of the potential profitability and risk-adjusted performance of this approach over the specified timeframe.