Market Overview for SuperVerse/Bitcoin (SUPERBTC): 2025-11-02 12:00 ET to 2025-11-03 12:00 ET

• Price fluctuated within a narrow range but broke out near resistance at 3.4e-06.
• Volume surged in the early hours of Nov 2, confirming potential breakout momentum.
• RSI remained below 50, suggesting moderate bullish pressure without overbought conditions.
• Bollinger Bands showed low volatility contraction prior to 02:15 ET, followed by a directional expansion.
• Fibonacci retracement levels aligned with key price reversals during the late-night hours.

At 12:00 ET-1, SuperVerse/Bitcoin (SUPERBTC) opened at 3.34e-06 and traded between 3.3e-06 and 3.42e-06 during the 24-hour period. It closed at 3.36e-06 by 12:00 ET. Total volume was 65,773.0, and notional turnover (amount) reached 67. The price action displayed a volatile yet structured movement, with a sharp rally to 3.4e-06 before consolidating near 3.36e-06 in the final hours.

The chart formed multiple key patterns. A Bullish Engulfing candle appeared at 20:00 ET when price moved from 3.37e-06 to 3.39e-06, signaling potential bullish momentum. Later, a Bearish Harami formed at 05:45 ET, as price opened at 3.39e-06 and closed at 3.38e-06 within a narrow range, hinting at potential short-term reversal. Notable support levels were identified around 3.36e-06 and 3.33e-06, with 3.4e-06 acting as the first resistance level. These levels corresponded to Fibonacci retracement levels of prior swings, particularly the 61.8% retracement of the 3.3e-06 to 3.42e-06 move.

The 20-period EMA on the 15-minute chart crossed above the 50-period EMA in the early hours of the morning, reinforcing a short-term bullish bias. Meanwhile, the 50-period daily EMA remained below the 200-period line, indicating a longer-term neutral stance. MACD showed a positive crossover at 01:30 ET, with histogram bars expanding during the breakout phase. RSI moved above 40 but failed to reach overbought territory (above 60), suggesting moderate bullish strength without excessive optimism. Volatility, as measured by Bollinger Bands, tightened before the 02:15 ET price surge, followed by a sharp expansion, confirming a breakout attempt.

Looking ahead, the next 24 hours could test the 3.4e-06 resistance level and whether volume supports a breakout. A sustained close above this level may indicate a shift in sentiment. Conversely, a pullback below 3.36e-06 could signal renewed consolidation. Investors should remain cautious of potential mean reversion, especially if volume diverges from price during an upswing.

Backtest Hypothesis

A potential backtest strategy could focus on detecting Bullish Engulfing patterns on the 15-minute chart, particularly when they occur near Fibonacci support levels and coincide with volume spikes. A buy signal would be triggered at the close of the engulfing candle, with a target exit at the resistance level of 3.4e-06. A stop-loss could be placed at the low of the engulfing candle or at the next Fibonacci retracement level. This approach would test whether price-volume confirmation around key candlestick patterns generates statistically significant returns over the past year. With precise rules and historical data, this strategy could be validated and optimized for risk-adjusted performance.