Summary
• Price showed a bullish breakout above 7.9e-07 with strong follow-through volume.
• RSI and MACD both signaled rising momentum, with RSI trending into overbought territory.
• Volatility expanded in late hours, with Bollinger Bands widening, suggesting increased uncertainty.
• On-balance volume confirmed price direction in early sessions but diverged later, raising caution.
• Fibonacci retracement levels at 8.1e-07 and 8.2e-07 acted as psychological anchors throughout the session.
Scroll/Bitcoin (SCRBTC) opened at 7.7e-07 on 2025-12-23 at 12:00 ET and closed at 8.1e-07 on 2025-12-24 at 12:00 ET, reaching a high of 8.2e-07 and a low of 7.7e-07. Total volume for the 24-hour period was 486,942.9, with a notional turnover of approximately 0.39 BTC.
Structure & Formations
The price formed a bullish ascending triangle during the latter half of the session, with resistance around 8.2e-07 and support near 7.9e-07. A notable bullish engulfing pattern occurred at 22:30 ET, confirming a breakout from a short-term consolidation phase.
Moving Averages
On the 5-minute chart, the price closed above both the 20-EMA and 50-EMA, signaling short-term bullish bias. The daily chart remains untested against longer-term averages, suggesting caution before drawing broader conclusions.
MACD & RSI
The MACD crossed above the signal line, confirming positive momentum, while RSI reached overbought levels by the end of the session. This combination may indicate short-term profit-taking unless a clear breakout occurs above 8.2e-07.
Bollinger Bands
Volatility increased significantly after 19:00 ET, causing Bollinger Bands to widen. By the close, price traded near the upper band, suggesting short-term strength but also the potential for mean reversion if the resistance at 8.2e-07 fails.
Volume & Turnover
Volume spiked during key breakout moments, particularly at 19:00 ET and 22:30 ET, supporting price movements. However, a divergence appeared in late hours, with price moving higher while volume subsided, potentially signaling weakening conviction.
Fibonacci Retracements
The 61.8% retracement level of the key 7.7e-07 to 8.2e-07 move acted as a temporary ceiling during the session. A break above 8.2e-07 could bring the 100% extension into focus.
Looking ahead, SCRBTC appears to be testing the 8.2e-07 resistance level, with volume and momentum supporting a potential breakout. However, traders should remain cautious for a pullback or consolidation before a new leg higher can be confirmed.
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