PHBBTC Market Overview for November 8, 2025

Summary• Phoenix/Bitcoin (PHBBTC) traded lower in a tight range, capped by 4.12e-06 and supported near 3.81e-06.• Momentum weakened toward the 24-hour close, with RSI near neutral and MACD showing bearish divergence.• Volatility dipped after a brief expansion, with Bollinger Bands indicating consolidation.

Phoenix/Bitcoin (PHBBTC) opened at 3.84e-06 on November 7 at 17:00 ET and closed at 3.8e-06 on November 8 at 12:00 ET, hitting a 24-hour high of 4.12e-06 and a low of 3.81e-06. Total volume for the 24-hour period was 144,864.3, and total turnover amounted to 691.4. The pair has shown a generally bearish bias in the last 24 hours, especially in the latter half of the session, with signs of waning momentum and low volatility.

Structure & Formations

PHBBTC has formed a bearish consolidation pattern between 3.81e-06 and 4.12e-06. Key resistance levels appear at 4.07e-06 and 4.12e-06, with support at 3.9e-06 and 3.85e-06. A notable bearish engulfing pattern emerged around 18:30–19:00 ET, reinforcing the bearish bias. A long lower shadow at 23:00 ET suggests a potential rejection at lower levels, but no clear reversal signal has emerged.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA are both bearishly aligned, with the 50SMA dipping below the 20SMA late in the session. On the daily chart, the 50DMA, 100DMA, and 200DMA show a flattening trend, indicating a potential turning point in the longer-term direction. Price has spent most of the day below all three moving averages, reinforcing the bearish tone.

MACD & RSI

MACD lines have turned negative in the final hours, with bearish divergence evident. RSI has remained in the 50–60 range, avoiding overbought or oversold territory. This suggests that the pair is in a period of consolidation rather than an overextended move, though bearish pressure is becoming more pronounced.

Bollinger Bands

Volatility has shown a slight expansion in the late afternoon, with the 15-minute Bollinger Bands widening after a period of contraction. Price is currently sitting near the lower band, suggesting a bearish bias. However, this may only be a short-term pullback rather than a breakdown.

Volume & Turnover

Volume spiked in the 18:00–19:30 ET window, coinciding with a sharp drop in price. Turnover remained relatively stable, with no significant divergence from price. However, volume dropped to near-zero in the early morning, indicating low conviction in any directional move.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 15-minute move from 4.12e-06 to 3.81e-06, 38.2% and 61.8% levels are at 3.99e-06 and 3.88e-06, respectively. Price has bounced off the 3.88e-06 level a few times but has not yet tested 3.81e-06 as a potential new support.

Backtest Hypothesis

To refine a trading strategy, identifying bearish engulfing patterns in PHBBTC could be useful. However, due to a recent data service issue, the Bearish Engulfing pattern dates could not be retrieved. Confirming the correct ticker symbol (e.g., BINANCE: PHBBTC or PHB/USDT) is essential for accurate backtesting over the 2022–2025 period. Once the symbol is validated, the backtest can proceed to evaluate the effectiveness of the pattern as a sell signal.