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

• Price drifted lower from 1.305e-05 to 1.295e-05, forming a bearish consolidation pattern.
• RSI-14 likely oversold (below 30) in late ET hours, hinting at potential short-term bounces.
• Volatility dropped midday, but sharp volume spikes near lows suggest possible support.
• Bollinger Bands tightened overnight, suggesting a potential breakout or breakout failure ahead.
• No clear 20/50 SMA crossovers, but price tested key Fibonacci retracement levels at 1.303e-05.

The Santos FC Fan Token/Bitcoin pair (SANTOSBTC) opened at 1.28e-05 on 2025-10-18 at 12:00 ET, drifted higher during the session, and closed at 1.295e-05 on 2025-10-19 at 12:00 ET. The 24-hour range spanned 1.269e-05 to 1.337e-05. Total volume for the period was 12,684.29, while total turnover amounted to approximately 1.662 BTC. The price action suggests moderate bearish bias with signs of potential consolidation.

Over the 15-minute OHLCV data, a key bearish formation formed around 1.305e-05, with price failing to reclaim that level after a brief attempt. Support appears to be holding near 1.295e-05, while resistance remains intact at 1.305e-05 to 1.308e-05. A notable bearish engulfing pattern emerged during the early ET hours, indicating a potential reversal from short-term bullish to bearish momentum. A doji appeared near 1.295e-05 late in the session, hinting at indecision or possible reversal at key support.

Price spent most of the day oscillating within a narrowing range, with volatility contracting as Bollinger Bands converged. This suggests traders may soon see a breakout or breakdown. The price tested the 61.8% Fibonacci retracement level at 1.303e-05 during the late ET session but failed to hold, reinforcing bearish bias. On the 15-minute time frame, the 20 and 50-period moving averages remained in a downtrend, with the 50 SMA acting as a bearish trigger for short-term traders.

MACD showed bearish divergence, with the line and histogram declining during the rally to 1.316e-05, indicating weakening bullish momentum. RSI-14 likely reached oversold conditions near 1.295e-05 late in the session, suggesting a potential bounce could materialize in the short term. However, volume during this period was relatively low, which weakens the bearish reversal signal. Traders should monitor the 1.295e-05 support and 1.305e-05 resistance levels closely.

Backtest Hypothesis
The inability to retrieve the RSI-14 series for SANTOSBTC due to symbol recognition issues complicates backtesting strategies that rely on this metric. Given the observed price action, a possible workaround involves manually identifying RSI-14 overbought and oversold signals from the OHLCV data. For example, price lows at 1.295e-05 align with potential RSI-14 readings below 30. A backtest could evaluate long entries on RSI-14 < 30 and short entries on RSI-14 > 70, using these thresholds as proxies for overbought and oversold conditions. Alternatively, switching to a USD-quoted pair like SANTOSUSDT may provide more accurate technical data, as USD pairs are typically more widely supported in backtesting tools. If manual signal dates are provided, a direct holding-period analysis can follow without needing RSI-14 from the data vendor.