Market Overview for SCRBTC on 2025-10-10

• SCRBTC formed a bullish reversal pattern after testing key support near 2.13e-06.
• Price surged past 2.15e-06, with RSI showing strong upward momentum without overbought signs.
• Volatility spiked during late ET hours, with Bollinger Bands widening, signaling increasing market activity.
• Notional turnover surged near 03:30–04:00 ET, confirming breakout price action.
• 2.16e-06–2.19e-06 remains a congested zone, potentially leading to a next consolidation or break.

Scroll/Bitcoin (SCRBTC) opened at 2.10e-06 on 2025-10-09 at 12:00 ET and reached a high of 2.23e-06 during the 24-hour period, with a low of 2.08e-06. The price closed at 2.14e-06 as of 2025-10-10 at 12:00 ET. Total volume for the 24-hour window stood at 49,550.5 SCRBTC, and notional turnover reached approximately $104,045.50 at a USD price of $2.10 (BTC price estimate).

The price action displayed a clear reversal from a bearish trend on the 15-minute chart, with key support forming at 2.13e-06 and 2.15e-06. A bullish engulfing pattern developed around 03:30 ET, followed by a strong push past 2.19e-06 amid high volatility and volume. A minor bearish correction emerged after 08:15 ET, forming a consolidation between 2.18e-06 and 2.19e-06 ahead of the final close.

The 20- and 50-period moving averages (15-minute timeframe) crossed above the 2.15e-06 level, reinforcing the bullish bias. On the daily chart, the 50-period MA sat at 2.16e-06, while the 200-period MA hovered near 2.13e-06, indicating a potential continuation of the upward trend. RSI peaked near 65 during the rally, avoiding overbought territory, while MACD showed a growing positive divergence, suggesting continued upward momentum is likely.

Bollinger Bands expanded significantly during the late ET hours, aligning with the price breakout. The bands constricted before the surge, signaling a buildup of volatility. Price remained within the upper band after 03:30 ET, reinforcing the bullish narrative. Volume and turnover spiked during the breakout phase, aligning with the price move and confirming strong institutional or retail interest.

Fibonacci retracement levels from the 2.08e-06 to 2.23e-06 swing indicated a key 61.8% retracement at 2.16e-06, which acted as support. On the 15-minute chart, the price held above this level, reinforcing the bullish outlook. A potential target for the next leg of the move could be the 78.6% retracement at 2.20e-06 or the 100% level at 2.24e-06 if the momentum persists.

Backtest Hypothesis
A hypothetical buy strategy could be triggered on the 15-minute chart when the price breaks above a 61.8% Fibonacci retracement level and RSI rises above 50, with volume confirmation. A trailing stop-loss could be set at the nearest support level, which currently resides at 2.13e-06. A sell target would be placed at the 78.6% level or beyond if the momentum sustains. This approach could be backtested over the last 60 days to evaluate win rate and risk-reward ratio.