Market Overview for Scroll/Bitcoin (SCRBTC) on 2025-11-10

Summary
• SCRBTC traded in a tight range with a bearish close, failing to break above key resistance.
• Volatility expanded during morning hours before consolidating around 1.63e-06.
• Strong volume-driven breakouts in the 9:30–10:30 ET window hinted at renewed buyer interest.

Scroll/Bitcoin (SCRBTC) opened at 1.58e-06 at 12:00 ET − 1 and reached a high of 1.76e-06 before closing at 1.63e-06 at 12:00 ET. The 24-hour low was 1.54e-06. Total volume was 254,120.7, and notional turnover amounted to 411.93 (in BTC equivalent).

The 15-minute chart shows a consolidation phase after a sharp price run-up in the early morning hours. A bearish divergence in the RSI suggests weakening momentum in the short term. The price remains below its 20-period and 50-period moving averages, indicating short-term bearish bias. However, recent volume spikes, especially during the 9:30–10:30 ET window, suggest some accumulation may be occurring ahead of potential support levels.

Bollinger Bands expanded during the breakout attempt, with SCRBTC currently hovering near the middle band—suggesting a potential pause in directional movement. Fibonacci retracements from the 1.54e-06 low to the 1.76e-06 high highlight potential near-term support at 1.65e-06 and 1.61e-06. A retest of 1.63e-06 could trigger renewed short-term interest or consolidation.

Looking ahead, a break above 1.68e-06 may signal renewed buyer confidence, while a drop below 1.61e-06 could accelerate downside momentum. Traders should remain cautious about liquidity dry patches, which may increase slippage during directional moves.

The backtesting strategy evaluated a one-day Bullish Engulfing pattern on SCRBTC from January 2022 to November 2025. While the pattern occasionally yielded strong intraday returns, the overall performance was modestly negative, with a poor Sharpe ratio. This suggests the candlestick signal alone is not sufficient for a profitable short-term trade. To improve the strategy’s viability, incorporating trend filters, tighter stop-loss levels, or adjusting the holding period may be necessary. The average trade return was slightly negative, indicating frequent whipsaw moves in this pair’s short-term price action.