Solar/Bitcoin (SXPBTC) Market Overview

Summary• Price consolidated near 1.11e-06 BTC, with minimal movement and low volume.
• No significant candlestick patterns observed; price remains within a narrow range.
• Volatility and momentum indicators suggest limited directional bias.

Solar/Bitcoin (SXPBTC) traded between 1.12e-06 BTC (high) and 1.08e-06 BTC (low) over the last 24 hours. The pair opened at 1.12e-06 BTC at 12:00 ET - 1 and closed at 1.11e-06 BTC at 12:00 ET. Total volume was 105,620.5 SXP, and notional turnover (in BTC) amounted to 0.116 BTC. Price remained in a tight range with limited price action and no clear directional bias.

Structure & Formations

SXPBTC displayed minimal movement, with price consolidating between 1.11e-06 and 1.12e-06 BTC. No notable candlestick formations such as dojis, engulfing, or harami patterns were observed. A support level appears to be forming near 1.10e-06 BTC, and resistance is visible at 1.12e-06 BTC. These levels may offer potential reversal or continuation signals if tested with increased volume.

Moving Averages and Momentum

Short-term moving averages (20 and 50-period on the 15-minute chart) indicate a flat, neutral trend. The price has been trading near the 50-period line, with no clear deviation, suggesting a lack of conviction. The 20-period line is slightly above the 50-period line but not by a significant margin. In terms of momentum, the MACD histogram has been flat, indicating no strong divergence. The RSI is hovering near the 50 mark, reinforcing the idea of a consolidating market.

Bollinger Bands and Volatility

The price has remained within the Bollinger Bands but closer to the midline, indicating low volatility and a lack of directional momentum. No significant contractions or expansions were observed during the 24-hour period. This suggests that the market is in a low-energy state, with traders likely waiting for a catalyst to break the consolidation.

Volume and Turnover

Volume remained largely flat for most of the 24-hour period, with only minor spikes occurring during a brief price drop to 1.09e-06 BTC. The largest volume spike was at 18:30 ET, with 26,785.5 SXP traded. Notional turnover followed a similar pattern, with most of the activity concentrated around that time. However, no significant price-volume divergence was observed, suggesting the price movement was supported by the volume increase.

Fibonacci Retracements

Applying Fibonacci retracement levels to recent 15-minute swings and major daily moves reveals that SXPBTC has been consolidating near the 61.8% retracement level from a prior move up. This area may offer a potential support/resistance pivot if volume increases and price breaks out of the current consolidation range. No significant price reactions were observed near the 38.2% level, suggesting limited immediate reversal potential.

Backtest Hypothesis

The provided backtest strategy aims to evaluate the performance of SXPBTC when it hits a key support level of ≤ 1.09 × 10⁻⁶ BTC. Based on the current technical analysis, the asset has shown several occasions of touching or near-touching this level, particularly during the 18:30 ET session. However, the backtest engine encountered an issue retrieving the necessary price data, most likely due to the lack of a properly mapped ticker symbol for SXPBTC.

To proceed, one option is to provide a valid exchange-specific ticker (e.g., BINANCE:SXPBTC) to ensure the backtester can access the correct historical data. Alternatively, a simplified offline analysis could be conducted using the available price series from the sxpbtc_support_hits_dates.json file. This would allow for calculating average returns at various intervals post-support test without requiring the interactive visual module.