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The Bitcoin price rose 6% in the last 24 hours to trade at $67,361 as of 03:41 a.m. EST on trading volume that dropped 12% to $57 billion.
This comes as spot BTC ETFs (exchange-traded funds) record their third straight day of net outflows, with March 20 recording the second-largest outflow of $261.5 million. March 18 and 19 recorded outflows of $154.3 million and $326.2 million, respectively.
Bitcoin Price Bulls Aim To Sustain The Bullish Momentum Past $70,000
The Bitcoin Price has been rising steadily since March, which saw it soar to a new all-time high (ATH) of $73,737, acting as the highest resistance level. This rejection allowed the bears to take control of the price, allowing for a retrace within the falling wedge pattern.
BTC bulls have found support at the $60,731 level, which paved the way for a rebound to the resistance level of $68,244.
The Bitcoin price is also trading above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a confirmation of the possible uptrend and sustained bullish momentum.
Additionally, The Relative Strength Index (RSI) is trading past the 50-midline level at 59, which shows that the price is still on a move to rebound further. If the bullish momentum is sustained, the RSI could soar past the 70-overbought region, which shows intense buying pressure.
The current movement by the RSI is further supported by the Average Directional Index (ADX), which is trading at 20, showing a strong trend with signs of a rally to the upside.
Moreover, the Stochastic Oscillator 14 3 3 line (green) crosses above the trigger line (orange), which indicates a bullish moving average crossover, further supporting the incoming buys and upward movements.
Bitcoin Price Prediction
The Bitcoin price analysis shows a continuation of bullish momentum, with the bulls aiming to sustain the stance over the falling wedge. The RSI and Stochastic Oscillator offer a bullish prospect to the optimistic oscillator, with the current target set at $72,000.
However, The Stochastic Oscillator has already crossed the oversold level at 70, which may suggest that the price may go through a short-term retrace. In this case, $66,000 acts as the immediate support level.
Historically, BTC has fallen in the days leading up to the halving and has followed a similar trend this round, as the event enters into the final 30 days. Analysts are also predicting a price retrace before the event, and a rebound after.
Meanwhile, the Green Bitcoin presale project is emerging as an attractive alternative way to play the Bitcoin bull run driven in part by the upcoming halving event.
Green Bitcoin Blasts Past $7 Million – Best Alternative To Bitcoin
The Green Bitcoin (GBTC) presale continues to garner attention, having secured over $7.3 million in early funding, as it races toward its target of $7.4 million.
Only $400K away from the Green Bitcoin Presale BEING FILLED!
Our journey starts HERE!
Follow us and make sure to tag a friend for your chance to win $200 worth of Green Bitcoin! pic.twitter.com/9YQfzXilgJ
— GreenBitcoin (@GreenBTCtoken) March 20, 2024
Green Bitcoin functions as an eco-friendly alternative to Bitcoin, merging Bitcoin’s legacy with the environmental consciousness of the Ethereum blockchain. The project introduces Gamified Green Staking, which allows users to earn lucrative rewards and token bonuses.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
The green staking model allows you to earn rewards through its predict-to-earn feature. By predicting Bitcoin’s daily price movements, holders earn rewards based on accuracy and how much is staked.
Buy And Stake $GBTC, Earn Passive Income
You can also earn passively with Green Bitcoin, where you stake $GBTC for an 86% annual percentage yield (APY). Holders on the platform have already staked over 6.7 million $GBTC tokens.
According to Matthew Perry, a crypto analyst and YouTuber, the project’s predict-to-earn model has good potential.
To take part in the presale, you can invest now for just $1.1062 before the price is hiked in three days.
You can purchase $GBTC tokens on the official Green Bitcoin website, where you can exchange ETH or USDT for $GBTC, or buy them directly with your bank card.
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