QNTBTC Market Overview: 2025-11-03

• Price declined from a high of 0.0007222 to close at 0.0007151 with a 15-minute RSI below 30, suggesting oversold conditions.
• Volatility remained relatively low, with Bollinger Bands narrowing after an early morning expansion.
• Key support levels appeared at 0.0007151 and 0.0007108, with bearish volume observed during the drop.
• A bullish reversal pattern formed near 0.0007151 but failed to confirm with strong follow-through.
• Turnover spiked during the early drop, but volume remained below average for the rest of the session.

Quant/Bitcoin (QNTBTC) opened at 0.0007151 on 2025-11-02 at 12:00 ET, reached a high of 0.0007222, and closed at 0.0007151 on 2025-11-03 at 12:00 ET. The 24-hour total volume amounted to 212.733 QNT, with a notional turnover of approximately $152.15 USD at the average closing price of 0.0007151. The session displayed a range-bound pattern with a bearish bias toward the close.

Structure & Formations

Price action on QNTBTC formed a bearish consolidation pattern after a brief early morning rally. A bullish reversal pattern was observed near 0.0007151, marked by a doji-like structure and a small body, but it failed to confirm with a strong follow-through. The 0.0007151 level acted as a psychological pivot point, showing a bounce during the session but failing to regain momentum above the 0.0007200 resistance. The 0.0007108 level appears to be a secondary support zone.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are currently aligned closely with the price, suggesting a neutral to slightly bearish bias. The 50-period MA crossed below the 20-period MA at 0.0007181, indicating a possible bearish crossover. On the daily chart, the 50-period MA is above the 200-period MA but trending downward, hinting at a broader bearish trend in the short-term context.

MACD & RSI

The 15-minute RSI dropped below 30 during the latter half of the session, indicating oversold conditions but without a clear reversal signal. The MACD histogram showed a bearish divergence in the final hour, confirming the bearish momentum. While the RSI did attempt to rebound, the MACD failed to follow through, suggesting weak conviction in the bounce.

Bollinger Bands

Volatility expanded briefly in the early morning before narrowing into a consolidation phase. The price remained near the lower Bollinger Band throughout the session, indicating a weak bearish bias. The bands are currently contracting, a sign that a breakout or reversal may be imminent in the next 24 hours.

Volume & Turnover

Volume spiked in the early morning during a sharp drop from 0.0007222 to 0.0007151, but remained below average for the remainder of the session. The price-volume divergence during the consolidation suggests weak bearish conviction. Turnover also spiked during the early decline but subsided later in the day. The lack of follow-through volume after the initial bearish move indicates limited conviction in the short-term bearish thesis.

Fibonacci Retracements

Applying Fibonacci retracements to the morning high of 0.0007222 and the low at 0.0007151, key levels include 0.0007183 (38.2%), 0.0007166 (50%), and 0.0007149 (61.8%). The 0.0007151 level acted as a strong support during the session, aligning with the 61.8% retracement level. A test of 0.0007149 could confirm its strength in the near term.

Backtest Hypothesis

To evaluate a potential backtesting strategy, a focus on Bullish Engulfing candlestick patterns would be ideal, given their potential to signal reversals in a downtrend. However, the current dataset does not include this signal, likely due to the specific symbol or data source limitations. To proceed effectively, consider one of the following actions:

1. Retry with the correct exchange format, such as BINANCE:QNTBTC, to ensure accurate technical indicators are retrieved.
2. Provide a pre-compiled list of Bullish Engulfing signals for QNTBTC since 2022, allowing for a direct backtest.
3. Switch to a broader-supported symbol, such as QNTUSDT, if your objective permits a stable quote currency.

Please clarify which option you prefer or provide the exact exchange and symbol for the backtest. This will ensure the strategy can be tested accurately and aligned with the technical narrative observed in this 24-hour analysis.