Market Overview: ssv.network/Bitcoin (SSVBTC) Daily Behavior

• Price declined from $0.0000668 to $0.00006297 over 24 hours
• RSI and MACD indicate weakening momentum and bearish divergence
• Volatility expanded during the session with heavy selling near the 20h30–22h ET window
• Bollinger Bands show price near lower band, signaling oversold potential
• Volume spiked during price decline, confirming bearish sentiment

The 24-hour period for ssv.network/Bitcoin (ticker SSVBTC) began at $0.00006636 (open) and reached a high of $0.00006708 before closing at $0.00006297. The lowest intraday level was $0.00006297. Total volume traded over the period was 843.99, while notional turnover amounted to $54.25.

The price structure over the 24-hour window displayed a bearish bias, with the most notable decline occurring between 20:30–21:45 ET, where price dropped from $0.0000668 to $0.0000650. A bearish engulfing pattern emerged during the 21:30–22:30 ET window as the price moved from $0.0000668 to $0.0000656, confirming a short-term reversal from the prior upward pressure. The 20-period and 50-period moving averages (15-min chart) remained above the current price, reinforcing the bearish momentum.

The 15-minute RSI indicator dropped below 30 during the 23:15–00:45 ET window, suggesting the asset may be entering an oversold territory. However, the lack of follow-through buying and a failure to rebound above $0.0000650 suggests weak conviction in the bounce. MACD lines crossed below the signal line around 23:30 ET, reinforcing a bearish divergence. Bollinger Bands showed a moderate contraction prior to the 20:30 ET sell-off, followed by a sharp expansion as the price dropped toward the lower band.

During the session, volume was highly concentrated in the bearish phases. A significant spike of 146.36 volume units occurred at 20:30 ET, coinciding with a $0.0000668 → $0.00006669 drop. Further volume concentration followed at 20:45 ET (151.75 units) and 21:30 ET (156.09 units), where the price continued to trend lower. These volume spikes confirmed the bearish momentum rather than contradicting it.

Applying Fibonacci retracement to the key 15-minute swing between 20:30–21:45 ET, the 61.8% level is at $0.0000652, where the price held for a brief period before breaking down. On the daily chart, the 200-period moving average sits at $0.0000660, acting as a potential near-term resistance if the price attempts a rebound. A move below $0.00006297 may trigger further bearish extensions to $0.0000617, depending on volume and sentiment.

Backtest Hypothesis:
A possible backtesting strategy involves entering a short position when the RSI drops below 30, confirmed by a bearish engulfing candle and a volume spike. A stop-loss could be placed above the 50-period moving average, with a take-profit near the 61.8% Fibonacci retracement level. This setup aligns with the 24-hour behavior, where a combination of RSI oversold readings, bearish candle patterns, and volume spikes provided a reliable sell signal. A trailing stop could be applied as the price moves lower, ensuring participation in a potential trend extension. This approach would have captured the $0.0000668 → $0.0000650 move with proper risk management.