Scroll/Bitcoin Market Overview: Consolidation and Key Levels in Focus

• Scroll/Bitcoin (SCRBTC) traded in a narrow range, with price consolidating near 2.31e-06.

• A sharp drop occurred in the late afternoon before consolidation set in.

• Volume spiked during the afternoon, followed by a decline into the evening.

• RSI and MACD signaled neutral momentum with no overbought or oversold conditions.

• Price action appears to be forming a potential base, with support near 2.28e-06 and resistance at 2.33e-06.

At 12:00 ET on October 6, 2025, SCRBTC opened at 2.3e-06 and traded between 2.23e-06 and 2.34e-06 before closing at 2.24e-06. The pair saw a total volume of 20,373.0 and a notional turnover of 69.0. Price activity appears to reflect cautious positioning, with volatility rising and falling in key timeframes.

Over the 24-hour period, SCRBTC formed multiple consolidation patterns, particularly in the late afternoon and evening, where a sharp drop to 2.23e-06 was followed by a rapid retest of resistance at 2.28e-06 and 2.33e-06. These levels may represent potential support and resistance for the next 24 hours, with the 2.28e-06 level acting as a psychological floor and 2.33e-06 as a ceiling. A bullish breakout above 2.33e-06 could indicate renewed buyer momentum, while a breakdown below 2.28e-06 may trigger further downside.

Moving averages on the 15-minute chart showed little directional bias, with the 20-period and 50-period lines converging near 2.31e-06. On the daily chart, the 50-period MA at 2.30e-06 and the 200-period MA at 2.28e-06 suggest a neutral-to-bullish bias if price holds above the latter. MACD showed a shrinking histogram and a near-zero crossover, indicating a potential equilibrium in momentum. RSI remained in the mid-range, hovering around 50, suggesting neither overbought nor oversold conditions. Bollinger Bands showed moderate contraction in the afternoon, followed by expansion in the early evening, signaling increased volatility and potential for a breakout.

The pair’s volume showed a significant spike during the afternoon hours (between 19:00 and 22:00 ET), reaching a peak of 1,985.5, while turnover remained relatively consistent. A divergence in price and volume was observed during the evening, with high volume failing to push price above 2.33e-06, suggesting possible exhaustion in the bulls. Fibonacci retracements on the key swing from 2.23e-06 to 2.34e-06 showed 38.2% at 2.30e-06 and 61.8% at 2.28e-06, with current price hovering near the 61.8% level. Traders may watch for price action at these levels to determine the next directional bias.

Backtest Hypothesis

The described strategy utilizes a combination of RSI, MACD, and volume confirmation for trade signals. A potential backtest could involve entering long positions when RSI crosses above 50, MACD histogram turns positive, and volume surges. Short entries might trigger when RSI drops below 50, MACD turns negative, and volume contracts. Given SCRBTC's recent behavior—particularly the failed attempt to break above 2.33e-06 and the high volume during consolidation—this setup could be tested over the next 48 hours. Traders should consider using tight stop-loss orders near key support levels and trailing stops to capture any potential breakout.