Scroll/Bitcoin (SCRBTC) Market Overview

• SCRBTC traded in a narrow range, forming multiple doji and consolidation patterns.
• Price dipped to 1.27e-6 mid-day before a late rally to 1.31e-6.
• Volatility remained low, with volume spikes coinciding with minor price reactions.
• RSI suggested neutral momentum, while MACD showed no clear directional bias.
• Turnover remained subdued throughout, indicating low conviction in price movements.

The Scroll/Bitcoin (SCRBTC) pair opened at 1.31e-06 (12:00 ET − 1) and traded between 1.27e-06 and 1.31e-06 over the 24-hour period, closing at 1.31e-06 as of 12:00 ET. Total volume amounted to 128,661.1, with notional turnover reflecting the low price and moderate trading activity. Price remained confined within a tight range, marked by multiple doji and flat sessions indicative of indecision.

Structure on the 15-minute chart revealed a prolonged sideways pattern, with support clustering near 1.27e-06 and resistance emerging around 1.31e-06. A short-lived bearish break at 1.27e-06 was followed by a retest and consolidation. No clear engulfing or reversal patterns emerged, but the repeated testing of these levels may signal a setup for a breakout in the next 24 hours.

The 20-period and 50-period moving averages on the 15-minute chart closely aligned, reflecting the flat trend. MACD remained near the zero line with no clear divergence, while RSI hovered around the 50 level, consistent with a neutral and consolidative phase. Bollinger Bands reflected low volatility, with price frequently clustering near the midline. A potential contraction may be forming, suggesting the possibility of a near-term volatility expansion.

Fibonacci retracements drawn between the 1.27e-06 and 1.31e-06 swings placed key levels at 38.2% (1.29e-06) and 61.8% (1.29e-06), both overlapping. Price has repeatedly tested these levels, particularly on the 1.29e-06 retracement level, indicating a possible inflection point. If a breakout occurs, these levels may provide confirmation of a directional shift.

Backtest Hypothesis
Given the limited price movement and lack of clear reversal patterns, a backtesting strategy based on candlestick signals—such as the Morning Star—could provide insight into the market's behavior under consolidation. However, no such pattern was confirmed in the provided dataset for SCRBTC. To refine this approach, traders could focus on confirming breakouts above 1.31e-06 or below 1.27e-06 as potential entry triggers, with stop-loss placement at the opposite end of the current range. A 5-day holding period could then be tested for profit-taking.