Numeraire/Bitcoin Market Overview (NMRBTC) – 24-Hour Technical Summary

• Price drifted lower overall, closing near intraday lows after an early rally
• Volatility remains muted with limited volume and turnover spikes
• A key support level forms around 0.0001169, tested multiple times
• RSI and MACD show weak momentum with no clear divergence signals
• Fibonacci retracement levels suggest potential for further downside to 0.0001155

Numeraire/Bitcoin (NMRBTC) opened at 0.0001176 at 12:00 ET–1 and closed at 0.0001183 at 12:00 ET, with a high of 0.0001205 and a low of 0.0001155. The 24-hour volume was 2,150.98 units, with a notional turnover of 0.2644 BTC. Price action suggests a bearish bias, with no strong reversal patterns emerging.

Price action for NMRBTC shows a drifting bearish bias, with price failing to hold above 0.000119, particularly during the early hours. A key support cluster has formed around 0.0001169, where price has bounced three times. Resistance levels appear at 0.000119 and 0.0001205, both of which have failed to hold during downlegs. A doji-like pattern emerged briefly near 0.0001197, but volume was extremely low, indicating indecision without conviction.

MACD & RSI Signals Weak Momentum

The MACD histogram remains negative and flattening, suggesting fading bearish momentum. RSI is in the neutral range at 50, with no divergence from price action. These indicators do not confirm either a strong bearish or bullish bias, indicating the market is likely to remain in consolidation.

Bollinger Bands show a slight contraction in volatility toward the end of the period, with price hovering near the middle band. This suggests traders are waiting for a catalyst, and the absence of strong volume spikes supports the idea of low conviction in current directional moves.

Volume and Turnover Patterns

Volume spiked briefly around 0.0001197, but this occurred with minimal price movement, indicating possible wash-trading or order-book balancing. Turnover was highest during a sharp drop to 0.0001155, where over 81 units traded at 0.0001164–0.0001174. A divergence between volume and price direction near 0.0001183 suggests further bearish tests could be on the horizon.

Fibonacci Retracements Suggest Potential for Downside

Applying Fibonacci retracement levels to the 0.0001155–0.0001205 swing, key levels include 0.0001176 (38.2%) and 0.0001169 (61.8%). Price appears to have found initial resistance at 0.0001176 and could face renewed downward pressure toward 0.0001169. The 0.0001155 level is a critical area for further support testing.

Moving averages on the 15-minute chart show price below both 20SMA and 50SMA, reinforcing the bearish tone. On the daily chart, the 50DMA and 100DMA are in close alignment, suggesting the pair remains in a longer-term consolidation phase.

Backtest Hypothesis

A potential backtesting strategy could focus on detecting Bullish-Engulfing candlestick patterns on the 15-minute chart. These patterns often signal short-term reversals in bearish trends, especially when they occur near key Fibonacci support levels like 0.0001169. If volume increases with the pattern, it could provide further confirmation. A stop-loss could be placed below the pattern’s low, while a target might align with the 0.0001183–0.000119 resistance cluster.