Market Overview for Santos FC Fan Token/Bitcoin (SANTOSBTC)

• Price moved from 1.577e-05 to 1.6e-05 and closed at 1.587e-05 with a 24-hour volume of 1314.66.
• A sharp retracement occurred at 18:45 ET, dropping 0.16% on high volume.
• Slight bearish divergence in price and volume during the early morning hours.
• Price traded between key support at 1.565e-05 and resistance at 1.6e-05 throughout.
• SANTOSBTC shows moderate volatility with no signs of a breakout above 1.6e-05.

The Santos FC Fan Token/Bitcoin (SANTOSBTC) pair opened at 1.577e-05 on 2025-09-22 at 12:00 ET, reached a high of 1.6e-05, and closed at 1.587e-05 on 2025-09-23 at 12:00 ET. The 24-hour volume totaled 1314.66 BTC, with a notable intraday retracement observed at 18:45 ET. The total notional turnover was driven by significant volume spikes, most notably at 22:30 ET and in the early morning hours.

Key support appears to be forming at 1.565e-05, where the price stalled on multiple occasions during the retracement. Resistance levels at 1.582e-05 and 1.6e-05 were both tested, with the 1.6e-05 level acting as a strong ceiling for the majority of the day. A bearish engulfing pattern was observed between 00:15 and 02:15 ET as the price consolidated lower, and a neutral doji formed at 02:45 ET, suggesting indecision. The overall structure shows a consolidation pattern within a defined range, with no clear trend emerging.

The 20- and 50-period moving averages on the 15-minute chart closely align with the recent price action, indicating a lack of directional momentum. The 200-period daily MA remains above the current price, suggesting a bearish bias at the larger time frame. The MACD line flattened midday, reflecting a slowdown in bullish momentum, while the RSI moved into neutral territory around 40–50, indicating moderate strength without signs of overbought conditions. The Bollinger Bands contracted in the early morning, followed by a modest expansion, with the price oscillating near the midband.

Volume and turnover spiked at key turning points, particularly during the intraday retracement at 18:45 ET and the consolidation phase from 00:15 to 02:45 ET. However, volume failed to confirm the bullish attempts near 1.6e-05, suggesting potential resistance. A divergence between rising prices and declining volume during the afternoon hours could indicate weakening bullish sentiment. The Fibonacci retracement levels from the 1.565e-05 low to the 1.6e-05 high align with key support and resistance levels observed, particularly at 38.2% (1.582e-05) and 61.8% (1.589e-05), which were both tested but not broken.

The backtest strategy involves entering a long position when the price breaks above the 61.8% Fibonacci retracement level (1.589e-05) with a volume spike for confirmation. A stop-loss would be placed just below the 38.2% level (1.582e-05), with a take-profit target at the next Fibonacci level or 1.6e-05. The strategy would be tested using historical 15-minute data for the past 30 days, focusing on entries and exits based on the defined levels and volume confirmation. This approach aims to capture short-term bullish momentum while managing risk with tight stop-loss placement. The RSI and MACD indicators would be used to confirm the strength of the breakout.