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Summary
• Price formed a bearish engulfing pattern at 0.0008408, followed by a sharp decline.
• Volume surged at 19:15 ET, confirming the bearish breakout.
• RSI and MACD both signaled weakening momentum.
• Bollinger Bands showed a modest expansion, indicating increasing volatility.
• Price may test 0.0008232 as a potential near-term support level.
Quant/Bitcoin (QNTBTC) opened at 0.0008395 on December 24 at 12:00 ET, hit a high of 0.0008417, a low of 0.0008232, and closed at 0.0008251 by December 25 at 12:00 ET. Total 24-hour volume was 80.714, with a notional turnover of approximately 0.0682 BTC-equivalent.
Price action unfolded in two distinct phases: a brief consolidation above 0.0008408, followed by a sharp breakdown that accelerated after a large-volume candle at 19:15 ET. This candle formed a key bearish signal, engulfing the previous structure and breaking below critical support at 0.0008391. The breakdown continued into the session’s final hours, culminating in a close near 0.0008251.
Structure & Formations
A bearish engulfing pattern formed at 0.0008408, marking a key reversal point. Price then retraced through 0.0008391 and 0.0008361 before testing the lower end of the recent range. The breakdown appeared confirmed by the bearish 19:15 ET candle and subsequent follow-through selling. Fibonacci levels suggest 0.0008232 (38.2% retracement of the 12:00 to 19:15 move) as a near-term support level.
Moving Averages and Momentum Indicators
On the 5-minute chart, the 20- and 50-period moving averages were in a bearish crossover by the end of the session, reinforcing the downward trend. RSI crossed below 30 in the final hours, signaling oversold conditions, while MACD showed a bearish divergence with price, as momentum lagged behind the sharp decline. This suggests the selloff may consolidate in the near term.
Volatility and Bollinger Bands
Bollinger Bands began to widen during the breakdown phase, particularly after 19:15 ET, indicating an expansion in volatility. Price closed just inside the lower band, suggesting continued bearish pressure. The widening bands may continue to support a test of key Fibonacci and prior support levels.

Volume and Turnover
Volume spiked at 19:15 ET with a 51.723 QNTBTC trade, confirming the bearish breakout. Turnover also surged during this period, aligning with the price move. However, subsequent volume dropped to near-zero in several intervals, indicating reduced liquidity and potential for a consolidation phase ahead.
While the breakdown appears validated, a rebound above 0.0008361 could signal short-term indecision. Investors should watch for a potential bounce off 0.0008232 and be cautious of a continuation below that level, which could trigger further bearish momentum.
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