Market Overview for Treasure/Bitcoin (MAGICBTC) – 2025-09-22

• Treasure/Bitcoin (MAGICBTC) fell 0.47% over the past 24 hours, with bearish momentum and low volatility.
• A key support zone formed near 1.54e-06, tested multiple times, while resistance is at 1.65e-06.
• Volume spiked during the overnight selloff but has since declined, suggesting reduced selling pressure.
• RSI remains in oversold territory, signaling potential for a short-term bounce.
• Bollinger Bands have contracted, hinting at a possible breakout in either direction.

The Treasure/Bitcoin (MAGICBTC) pair opened at 1.76e-06 at 12:00 ET − 1 and closed at 1.54e-06 at 12:00 ET, with a high of 1.76e-06 and a low of 1.5e-06. Total trading volume was 421,794.1 units, and notional turnover amounted to approximately 666.7 BTC-equivalent (calculated using average price). The asset has remained in a bearish consolidation phase, with buyers showing minimal interest above 1.65e-06.

The structure over the past 24 hours shows strong bearish control, with a series of lower lows and lower highs. A key support cluster appears to be forming around 1.54e-06–1.55e-06, with multiple candlestick closes and failed attempts to break below. A doji formed near 1.54e-06 in the early morning, indicating indecision. Resistance remains at 1.65e-06 and 1.73e-06, where prior rejections occurred. The 20-period and 50-period moving averages on the 15-minute chart remain below the price, reinforcing the bearish trend.

Momentum indicators paint a mixed picture. The RSI has been in oversold territory (below 30) for much of the day, suggesting the potential for a short-term bounce. However, the MACD histogram remains negative, with a bearish crossover between the signal and MACD lines earlier in the morning. Bollinger Bands have seen a recent contraction, signaling a potential period of low volatility followed by a possible breakout. The price remains within the band width, with no clear directional bias yet.

Volume has been a key driver, with a sharp spike in the overnight session as prices dropped from 1.73e-06 to 1.62e-06. This was followed by a significant volume increase at 1.54e-06 as the price found a temporary floor. However, recent volume has dried up, suggesting that sellers have been exhausted for now. A follow-through decline would require a new wave of volume; otherwise, buyers may step in near the 1.54e-06–1.55e-06 support cluster.

Fibonacci retracements on the overnight swing from 1.76e-06 to 1.5e-06 suggest potential levels of interest. The 61.8% retracement is at 1.61e-06, and the 38.2% is near 1.66e-06. These levels could act as temporary resistance or support depending on the direction of the next move. On a daily chart, the 50-period MA is below the 200-period MA, reinforcing a longer-term bearish bias.

Backtest Hypothesis
The provided backtest strategy likely targets short-term mean reversion opportunities within the 1.54e-06–1.65e-06 price range. Given the recent oversold RSI and the consolidation pattern, a potential entry could be considered on a retest of the 1.54e-06–1.55e-06 support level, with a stop-loss just below it. A target of 1.60e-06 aligns with the 61.8% Fibonacci retracement. This approach assumes a reversal in the near term but requires confirmation via higher volume or a bullish candlestick pattern.