Scroll/Bitcoin (SCRBTC) Market Overview

Summary
• Scroll/Bitcoin (SCRBTC) declined from 1.65e-06 to 1.51e-06 on increased volume.
• A bearish engulfing pattern emerged on 2025-11-10 19:00 ET, signaling bearish momentum.
• RSI and MACD confirmed bearish sentiment, with RSI trending below 30 and MACD diverging downward.
• Volatility expanded through Bollinger Bands, with price near the lower band.
• Fibonacci 61.8% level at ~1.53e-06 provided temporary support before further decline.

Scroll/Bitcoin (SCRBTC) opened at 1.65e-06 on 2025-11-10 at 12:00 ET, reached a high of 1.66e-06, and closed at 1.51e-06 as of 12:00 ET on 2025-11-11. Total trading volume amounted to 159,294.2, while notional turnover came in at 249,187.3. The pair showed consistent bearish pressure over the 24-hour period.

On the 15-minute chart, SCRBTC tested key support at 1.62e-06 and 1.61e-06 before breaking through to 1.59e-06. The pattern that stood out was a bearish engulfing candle formed on 2025-11-10 at 19:00 ET, which confirmed a shift in momentum to the downside. A doji near 1.62e-06 at 2025-11-10 22:30 ET hinted at indecision. Resistance levels emerged at 1.63e-06 and 1.65e-06, while support levels at 1.58e-06 and 1.55e-06 showed strong bearish pressure.

The 20-period moving average dipped below the 50-period line, confirming a short-term bearish trend. On the daily chart, the 50-day average is below the 100- and 200-day lines, indicating a bearish bias over a longer horizon.

RSI fell below 30, signaling oversold conditions, although this may not necessarily lead to a reversal. MACD lines trended lower, with a bearish crossover and negative histogram, reinforcing the continuation of the downtrend. Bollinger Bands expanded as volatility increased, with prices hovering near the lower band, indicating bearish dominance.

Volume spiked during key bearish moves, especially at 1.61e-06 and 1.59e-06, reinforcing the bearish bias. However, a divergence between price and volume was observed near 1.58e-06, which may suggest a potential pause or minor rebound. Notional turnover increased with price declines, confirming the bearish conviction among traders.

Fibonacci retracement levels revealed 38.2% at ~1.59e-06 and 61.8% at ~1.53e-06. The price broke through the 61.8% level and continued down to 1.51e-06, indicating a potential target near the 1.50e-06 level if the bearish trend continues.

Backtesting of the bearish engulfing pattern suggests that the strategy of selling SCRBTC upon its formation and holding for one day would have resulted in a notable loss. The pattern appears to signal a continuation of the bearish trend rather than a reversal, as evidenced by SCRBTC’s subsequent price action following the engulfing candle on 2025-11-10 at 19:00 ET. This highlights the importance of incorporating additional indicators—such as RSI, MACD, and Fibonacci levels—to better assess the context of the pattern.

Looking ahead, SCRBTC may test the 1.50e-06 support level in the next 24 hours. A break below that could signal a further move toward 1.48e-06. However, a rebound from the lower Bollinger Band or Fibonacci 61.8% level may trigger short-term buying. Traders should remain cautious given the divergence near 1.58e-06 and the bearish technical setup. Volatility and volume may signal exhaustion if a rebound materializes.