Scroll/Bitcoin Market Overview: SCRBTC Gains Momentum Amid Volatility

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Friday, Nov 7, 2025 9:34 pm ET1min read
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- SCRBTC/Bitcoin rose from $1.47e-06 to $1.62e-06 amid increased volume and bullish momentum.

- Technical indicators show RSI near 55, expanding MACD, and widening Bollinger Bands confirming upward trend strength.

- Fibonacci levels highlight $1.61e-06 as key resistance ahead, with 38.2% retracement already surpassed.

- Failed backtest due to invalid ticker underscores need for accurate data verification before strategy execution.

Summary
• SCRBTC opened at 1.47e-06 and traded within a 0.67% range, closing at 1.62e-06 after a bullish push.
• Increased volume in the final hours suggests strong accumulation or short-covering activity.
•

Momentum
remains positive, though RSI near 55 indicates no overbought condition yet.

Scroll/Bitcoin (SCRBTC) opened at $1.47 \times 10^{-6}$ BTC at 12:00 ET on 2025-11-06 and rose to a high of $1.70 \times 10^{-6}$ BTC before settling at $1.62 \times 10^{-6}$ BTC at 12:00 ET on 2025-11-07. The pair saw total trading volume of 380,622.0 SCRBTC, translating to a notional turnover of approximately $0.61$ BTC during the 24-hour window.

Price action unfolded with a consolidation phase followed by a sharp rally from 21:00–22:30 ET, where SCRBTC surged from $1.53 \times 10^{-6}$ to $1.59 \times 10^{-6}$ BTC. A key breakout occurred at 08:15–08:30 ET as the pair rose from $1.60 \times 10^{-6}$ to $1.65 \times 10^{-6}$ BTC. The 50-period 15-minute moving average (SMA) currently supports the price, and the 20-period SMA is trending higher, suggesting sustained buyer interest.

The MACD histogram expanded in the latter part of the day, confirming the strength of the bullish trend. RSI remains above 50 and has not entered overbought territory, indicating further upside potential is plausible. Volatility, as measured by Bollinger Bands, has widened, reflecting increased conviction in price direction.

Fibonacci retracement levels of the recent 1.47–1.70e-06 swing show the 61.8% level at $1.61 \times 10^{-6}$ BTC being approached, suggesting a key psychological barrier ahead. The 38.2% retracement at $1.57 \times 10^{-6}$ BTC has already been tested and surpassed. Volume has also risen in line with price, confirming the strength of the move.

Backtest Hypothesis
A backtest strategy was attempted using a Bullish Engulfing candlestick pattern on SCRBTC, but data retrieval failed due to an invalid ticker. To proceed, the correct trading pair and exchange must be confirmed. The strategy aims to identify strong reversal signals and test their performance when held for 5 days. Given the current momentum and formation on SCRBTC, a successful backtest could validate the pair as a high-probability short-term trade.