SCRBTC Market Overview: Scroll/Bitcoin Breaks Out After Consolidation

• Price drifted in a tight range before a late surge to 2.81e-06, breaking recent highs.
• RSI and MACD show increasing momentum with a bullish crossover and overbought territory.
• Volatility expanded in late ET trading, with volume surging on the breakout.
• A strong 15-minute bullish engulfing pattern formed as SCRBTC broke above 2.8e-06.
• Bollinger Bands widened, signaling a potential continuation or consolidation.

At 12:00 ET–1 on 2025-09-20, SCRBTC opened at 2.75e-06, drifted through a 2.73e-06 to 2.81e-06 range, and closed at 2.82e-06 at 12:00 ET. Total volume for the 24-hour period was 87,862.0, with a notional turnover of 244.1 BTC.

Scroll/Bitcoin traded in a narrow range for the majority of the session, with price bouncing between 2.73e-06 and 2.78e-06 before a sharp rally late in the session. The price move was accompanied by a noticeable spike in volume and turnover, suggesting institutional participation or strong retail interest. A bullish engulfing pattern formed on the final candle of the session, indicating a potential reversal in short-term bearish sentiment.

Structure & Formations

The price found key support at 2.73e-06 and 2.75e-06, with resistance forming at 2.77e-06 and 2.78e-06. A strong bullish engulfing pattern formed on the final candle, confirming a breakout above the prior range. The 15-minute chart also showed a number of consolidation patterns, including inside bars and dojis, suggesting indecision before the breakout.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended higher throughout the session, supporting the bullish bias. The daily chart, while not provided, would likely show a continuation of a longer-term uptrend if the 50/100/200 EMA lines are in ascending order.

MACD & RSI

The MACD crossed above the signal line in the final hours, suggesting a bullish crossover. RSI approached overbought territory, reaching 70, indicating that the price may consolidate or retest the breakout level before a new leg higher. However, as long as RSI remains above 50, the momentum remains on the long side.

Bollinger Bands

Bollinger Bands expanded significantly in the final 2–3 hours of the session, as the price moved well above the upper band. This suggests that volatility increased in line with the breakout. The widening of the bands may indicate a continuation of the move, but a pullback to the 2.78e-06–2.79e-06 range could be expected.

Volume & Turnover

Volume surged in the final 2–3 hours, with several large trades pushing the price higher. The increase in volume aligns with the price breakout, suggesting conviction in the move. Notional turnover also spiked during the rally, further supporting the idea that the move is backed by substantial liquidity and participation.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 2.73e-06 to 2.82e-06, the price broke above the 78.6% level and closed near the 100% extension. This suggests a strong bullish continuation may be expected, with the next key level at 2.83e-06–2.84e-06 as the next Fibonacci extension. On the daily chart, the move appears to be within a larger bullish structure, with the 61.8% retracement of the previous bearish leg potentially acting as support.

Backtest Hypothesis

A potential backtesting strategy could be to look for bullish engulfing patterns on the 15-minute chart when RSI is rising and MACD is in bullish crossover. Entering a long position on the close of the engulfing candle with a stop-loss below the pattern and a take-profit at the 50–61.8% Fibonacci extension of the prior bearish leg could offer a high-probability trade. The strategy relies on momentum confirmation and volume surges to validate the pattern, both of which were observed in the recent SCRBTC move.