Market Overview for Request/Bitcoin (REQBTC) – 24-Hour Summary

Summary
• Price remains range-bound between 1.22e-06 and 1.24e-06 onREQBTC, with minimal directional bias.
• Volume spiked sharply at 21:30 ET and 04:45 ET, but failed to trigger meaningful breakouts.
• RSI and MACD show no extreme readings, indicating consolidation rather than overbought/oversold conditions.

Market Overview

Request/Bitcoin (REQBTC) opened at 1.24e-06 on 2025-11-13 at 12:00 ET, reached a high of 1.24e-06, and a low of 1.22e-06, closing at 1.22e-06 by 12:00 ET on 2025-11-14. Total 24-hour volume was 104,720.0, with total turnover amounting to 13,140.0. Price remains within a tight range, with no clear trend emerging over the 24-hour period.

Structure & Formations

Price consolidation has been evident throughout the day, with key support at 1.22e-06 and resistance at 1.24e-06 holding firm. Notable volume spikes occurred at 21:30 ET and 04:45 ET, where the price briefly moved within the range but failed to break through either level. A Bullish-Engulfing pattern formed at 20:30 ET, followed by a Bearish-Engulfing pattern at 04:45 ET, suggesting ongoing indecision among traders.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages closely align, reinforcing the sideways trend. The daily chart shows the 50-period MA above the 100- and 200-period MAs, suggesting a longer-term bearish bias. However, this has not manifested in the recent 24-hour period due to the range-bound nature of price.

MACD & RSI

The MACD histogram remains centered around the zero line, reflecting balanced bullish and bearish momentum. RSI has fluctuated between 45 and 55, indicating neither overbought nor oversold conditions. While no strong reversal or continuation signals have emerged, the indicators suggest further consolidation is likely in the near term.

Bollinger Bands

Volatility has remained low, with price fluctuating within the Bollinger Bands. The bands have not expanded, and price has not touched either the upper or lower boundaries. This suggests a continuation of the consolidation phase, with potential for a breakout if volume increases and confirms a directional move.

Volume & Turnover

Volume activity was largely concentrated in the 21:30 ET and 04:45 ET periods, where significant trades occurred but did not lead to clear directional moves. The lack of correlation between volume and price movement indicates potential for indecision and a possible continuation of the range.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing (1.22e-06 to 1.24e-06), the 38.2% level (1.232e-06) and the 61.8% level (1.228e-06) appear to act as key psychological levels. Price has bounced off these levels multiple times, indicating their importance in potential future price action.

Backtest Hypothesis

To confirm the significance of the observed candlestick patterns, a backtest could be performed using the Bullish-Engulfing and Bearish-Engulfing strategies. Given the ambiguity in the symbol format, it is essential to clarify whether the data should be sourced from BINANCE:REQBTC or BITTREX:REQBTC. Once the correct data source and price type (open or close) are confirmed, the strategy would involve detecting every Bullish-Engulfing pattern since 2022-01-01, using it as a buy signal, and generating Bearish-Engulfing patterns as sell signals. This would allow us to measure the performance of the strategy over a three-year period and assess its viability as part of a broader trading plan.