Market Overview for Request/Bitcoin (REQBTC)

• REQBTC traded in a tight range for most of the 24 hours, with a modest high of 1.11e-06 and a low of 1.06e-06.
• A late 15-minute spike in the morning brought price up to 1.11e-06 but failed to hold the level.
• Volume remained subdued throughout the period, with a total of 135,480 REQ traded.
• No clear breakout or reversal patterns formed, but a bullish engulfing pattern appeared briefly at 0600 ET.
• Price remains within a consolidation phase ahead of a potential directional move.

Request/Bitcoin (REQBTC) opened at 1.06e-06 on 2025-09-15 at 12:00 ET, reached a high of 1.11e-06, a low of 1.06e-06, and closed at 1.09e-06 on 2025-09-16 at 12:00 ET. Total volume over the 24-hour period was 135,480 REQ, with a notional turnover of approximately $0.1504 (at 1.11e-06).

Structure & Formations

The pair displayed a tight range with a key support level forming around 1.07e-06 and a resistance at 1.11e-06. A brief bullish engulfing pattern emerged at 0600 ET as price surged from 1.08e-06 to 1.11e-06 but failed to maintain the momentum. A doji formed near the 1.11e-06 level, signaling indecision. Minor corrections were observed around 1815–1830 ET and 0400–0415 ET, indicating short-term bearish sentiment.

Moving Averages

On the 15-minute chart, the 20-period MA trended slightly upward, while the 50-period MA remained flat, suggesting a potential bearish crossover. For the daily chart, the 50-period MA appears to be forming a shallow base above the 1.08e-06 level, which could offer support in the next 24 hours. The 100- and 200-period MAs remain flat to slightly bearish, indicating no strong trend development.

MACD & RSI

The MACD line showed a weak positive divergence at 0600 ET but quickly returned to the zero line as bearish momentum reasserted itself. The RSI hovered between 45 and 55 for most of the day, indicating neutral momentum with no overbought or oversold conditions. A brief RSI spike above 60 occurred during the 0600 ET candle but did not lead to a sustained move, suggesting the rally was short-lived.

Bollinger Bands

Price remained within the Bollinger Bands for the majority of the session, with a minor expansion observed during the 0600–0615 ET candle. The bands have been in a narrow consolidation phase, indicating low volatility. Price is currently positioned slightly below the 20-period middle band, suggesting a potential pullback could be in the works if volume picks up.

Volume & Turnover

Volume remained subdued across most of the 24 hours, with a few spikes such as the 0600–0615 ET candle (volume: 1,967.0 REQ) and the 1000–1015 ET candle (volume: 2,663.0 REQ). These spikes coincided with price attempts to break above 1.11e-06 but failed to sustain the movement, indicating a lack of conviction. Total turnover amounted to $0.1504, which is relatively low for the pair’s trading activity.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 1.06e-06 to 1.11e-06, the 61.8% retracement level is currently at 1.09e-06, which aligns closely with the recent closing price. This suggests that the market may consolidate around this level before resuming a directional move. The daily Fibonacci levels show the 38.2% retracement at 1.08e-06, which could offer support or resistance in the short term.

Backtest Hypothesis

The backtesting strategy under consideration involves a 15-minute breakout strategy that enters long positions when price closes above the 20-period MA and short positions when it closes below. Stops are placed at the previous 15-minute low for longs and the previous high for shorts. Given the flat 20-period MA and indecisive candlestick patterns observed, the strategy may struggle to capture clear directional bias in the coming 24 hours. However, a breakout above 1.11e-06, if confirmed with rising volume, could offer a favorable entry point for a long trade. A test of the 1.07e-06 level may also provide a shorting opportunity with a defined risk profile.