MyShell/Bitcoin (SHELLBTC) Market Overview

• Price remained flat between $0.00000095 and $0.00000096 for most of the 24-hour period.
• A small-volume breakout attempt occurred mid-cycle, but failed to sustain.
• Volume and turnover were minimal outside of a few spikes, indicating low conviction.
• RSI and MACD showed no clear momentum, consistent with the range-bound action.
• Bollinger Bands remained narrow, indicating low volatility.

SHELLBTC opened at $0.00000095 at 12:00 ET - 1 and closed at the same level at 12:00 ET on October 5, 2025. The price touched a high of $0.00000096 and a low of $0.00000095 during the 24-hour window. Total traded volume amounted to 115,018.8 with a total turnover of $0.1093. The pair remained in a tight range, with limited price movement and no clear directional bias.

The 15-minute candles showed little to no directional momentum, with most candles forming doji or tiny bullish/bearish bodies, indicating indecision among traders. A notable tiny bullish candle with a volume spike at $0.00000096 appeared around 02:45 ET, but it failed to push price beyond the upper boundary of the range. The key support and resistance levels were defined by $0.00000095 and $0.00000096, with the price bouncing between these levels multiple times throughout the day.

The 20-period and 50-period moving averages on the 15-minute chart were almost aligned, both sitting around $0.000000955, and the price hovered near them without crossing. On the daily chart, the 50-day, 100-day, and 200-day moving averages were also closely aligned, reinforcing the flat trend. Bollinger Bands remained narrow for most of the period, indicating low volatility. Price action stayed within the bands with no clear breakouts or reversals.

The MACD and signal line remained close to the zero axis throughout the 24-hour period, confirming the lack of momentum. The RSI was flat around the 50 level, with no overbought or oversold readings. This suggests that the market is in a state of consolidation with no clear trend in either direction. Volume was generally low, with only a few spikes at the end of the 24-hour period. Notably, a drop in price occurred at 11:15 ET, marked by a candle with a tiny bullish body, but it was quickly reversed, indicating weak bearish pressure.

The Fibonacci retracement levels from the most recent 15-minute swing showed 38.2% at $0.000000953 and 61.8% at $0.000000957, both of which were tested but not broken. These levels appear to have served as temporary supports and resistances. On the daily chart, Fibonacci levels from a larger swing were not relevant due to the flat price action. Traders should keep an eye on these 15-minute retracements if the market shows signs of moving in either direction.

Backtest Hypothesis

The backtest strategy under consideration involves entering a long position when price breaks above $0.00000096 with confirmation by a bullish candle with high volume, and exiting when the price retraces to the 20-period moving average or a 38.2% Fibonacci level. A short position would be triggered if the price closes below $0.00000095 with bearish confirmation and a stop-loss is placed above $0.000000955. Given the flatness of the chart and the absence of strong momentum, the strategy appears to have had limited opportunities during the past 24 hours. However, if the market remains in a defined range, the strategy could benefit from tight stop-loss levels and high-probability entries based on volume and candlestick patterns.