Market Overview for StaFi/Bitcoin (FISBTC) – 2025-11-08

Summary
• Price dropped from 7.3e-07 to 6.4e-07 amid bearish momentum.
• High volume activity driven by midday sell-offs.
• RSI suggests oversold conditions, indicating potential bounce.
• Bearish Engulfing and Dark Cloud patterns emerged.
• Bollinger Bands show contraction, hinting at possible volatility expansion.

Price and Volume Summary

StaFi/Bitcoin (FISBTC) opened at 7.3e-07 on 2025-11-07 at 12:00 ET and closed at 6.4e-07 on 2025-11-08 at 12:00 ET. The 24-hour high was 7.3e-07, and the low was 6.4e-07. Total volume traded amounted to 505,330.0 units, while total turnover was approximately $356.84 (at 6.4e-07 closing price). The pair displayed a clear bearish bias, with several significant sell waves driving the price downward.

Structure & Formations

Over the past 24 hours, FISBTC exhibited several key bearish candlestick patterns. A Bearish Engulfing pattern formed at 21:15 and 21:30 ET, confirming a shift in sentiment from bullish to bearish. Later, a Dark Cloud Cover pattern appeared at 23:45 ET, followed by a Bearish Abandoned Baby at 00:00 ET on 2025-11-08, reinforcing the bearish momentum. A Doji appeared at 01:30 ET, signaling indecision in the market. Key resistance levels are now at 6.8e-07 and 6.9e-07, while key support appears to be consolidating around 6.4e-07.

Moving Averages and Bollinger Bands

The 20-period and 50-period moving averages on the 15-minute chart are both below the closing price, indicating bearish dominance. Bollinger Bands showed a tight contraction around 00:00 ET, which often precedes a breakout. The price remained near the lower band for most of the session, suggesting heightened volatility and bearish pressure. On the daily chart, the 50-period MA is above the 100- and 200-period MAs, indicating a potential short-term bearish bias in the broader context.

Momentum and Volatility

The RSI reached an oversold level near 25 at 05:00 ET, hinting at a potential rebound or consolidation phase. However, the bearish trend has not yet reversed, and the MACD crossed below the signal line midday, confirming bearish momentum. A notable volume spike occurred at 21:15 and 21:30 ET, coinciding with the Bearish Engulfing patterns. This suggests strong conviction from sellers. Notional turnover spiked at the same times, aligning with the price drop. No clear divergence was observed between price and volume, indicating a cohesive bearish move.

Volume and Turnover Insights

Volume spiked dramatically at 21:15 and 21:30 ET, with 74,470 and 43,638 units traded, respectively. These spikes coincided with key bearish patterns, indicating strong institutional or retail selling pressure. Turnover followed a similar trend, with $52.33 and $29.05 in turnover at those times. The lack of divergence between volume and price suggests sellers are in control. Later, at 23:45 ET and early on the 8th, the volume dropped significantly, suggesting exhaustion in the bearish move.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute move from 7.3e-07 to 6.4e-07, the 61.8% retracement level lies at 6.6e-07. The 38.2% retracement is at 6.8e-07. Price briefly bounced off the 6.8e-07 level but failed to hold, indicating the 61.8% level may act as a near-term support. On the daily chart, the 61.8% retracement of the longer-term move is at 6.5e-07, which may offer a short-term floor if the bearish trend stabilizes.

Backtest Hypothesis

To refine the backtesting strategy, it is recommended to define two key parameters: 1) whether the Bearish Engulfing pattern is used to open a short position or as a signal to exit an existing long, and 2) the exit rules for the short, such as a fixed holding period (e.g., 24–48 hours), a stop-loss at 5–10%, or a take-profit at 38.2% or 61.8% Fibonacci levels. Based on the current market structure and confirmed patterns, a short strategy initiated at the close of the 21:15 or 21:30 Bearish Engulfing candles appears valid, with a target near 6.4e-07 and a stop at 6.8e-07.