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The Bitcoin price pumped over 4% in the last 24 hours to trade at $70,350.63 as of 2:25 a.m. EST as investors rush to scoop up BTC before the Bitcoin halving.
The Bitcoin Price Managed To Flip A Key Resistance
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price managed to break above the $68,863.99 resistance level in the past 24 hours after it printed a series of higher highs and higher lows on its 4-hour chart. If buyers continue to push the leading crypto’s price higher in the upcoming days then BTC might attempt to flip the $72,564.10 barrier into support as well. Thereafter, the Bitcoin price could have the foundation needed to rise above its previous all-time high to record a new peak in the following few days.
This bullish thesis might be invalidated if the crypto king breaks below $68,863.99 in the next 24-48 hours. A wave of panic selling may then take place, which could pull the Bitcoin price down to as low as the next key support level at $65,847.29. In an extremely bearish scenario, BTC may plummet to $61,481.65 if sellers continue to offload their holdings in the market leader.
The Bitcoin Price May Soon Undergo A Correction
Technical indicators on BTC’s 4-hour chart are flagging bullish, but do warn of a potential bearish reversal for Bitcoin’s trend as buying activity begins to cool down.
The Moving Average Convergence Divergence (MACD) line is positioned bullishly above the MACD Signal line, which indicates that BTC is in a positive cycle.
Similarly, the Relative Strength Index (RSI) is positioned above its Simple Moving Average (SMA) line. Traders generally identify this technical occurrence as a sign that buyers have the upper hand against sellers.
Although both the MACD and RSI indicators are flagging bullish, they warn of a potential correction. The MACD line is starting to collapse towards the MACD Signal line, which might suggest that BTC’s bullish momentum has reached a peak and will begin to subside soon.
Buyers also seem to be losing some of their advantage over sellers, as evident by the RSI line that is negatively-sloped towards the SMA line. An intersection between the RSI and SMA lines, or between the MACD and MACD Signal lines, might confirm that the Bitcoin price has entered a bearish phase.
While the Bitcoin price attempts to establish a new all-time high, the Bitcoin Minetrix presale is charging towards $13 million.
Simplifying BTC Mining For Everyone
Mining crypto can be somewhat of a complex task. Apart from having to set up dedicated machinery, anyone looking to run a mining farm will need to constantly monitor the miners for any potential issues to ensure maximum uptime.
Bitcoin Minetrix, through its innovative cloud mining platform, is on a mission to simplify cloud mining for everyone.
#BTCMTX offers a dependable cloud mining solution tailored for every #Crypto enthusiast.
Past hardware concerns and scams have deterred many.
This decentralized method ensures a transparent and protected mining journey. 🔒 pic.twitter.com/4bi8D97oKb
— Bitcoinminetrix (@bitcoinminetrix) March 25, 2024
Through its stake-to-mine model, investors can earn profits from BTC mining by simply staking an ERC-20 token without having to stress about the ongoing maintenance of the machinery.
All investors will have to do is purchase the project’s BTCMTX token on Bitcoin Minetrix’s official website.
Once purchased, the tokens will need to be staked in exchange for “gas” tokens.
The final step is to burn these gas tokens, which will then allow token holders to claim a share of Bitcoin Minetrix’s cloud mining power.
BTCMTX Could 10X After The Halving
The Bitcoin halving event is set to take place in 24 days. This will slash mining rewards in half, which many believe will lead to multiple smaller mining operations closing shop.
The impacted mining operators may turn to Bitcoin Minetrix as an alternative, given its affordability. Since BTC will become more scarce after the historic event, retail investors might also turn to Bitcoin Minetrix to earn a passive income that is paid in the leading crypto.
BTCMTX, Bitcoin Minetrix’s native token, is set to benefit from this potential uptick in interest given its central role in the project’s cloud mining operations. Investors who buy into BTCMTX before the halving might enjoy 10X returns on their investments as a result.
@MarathonDH ramps up infrastructure as #Bitcoin's code update looms, aiming to stay competitive amidst revenue cuts. 🔧
How do you think miners will navigate the changing landscape post-halving? 🤔#BitcoinMinetrix has also reached a new milestone and surpassed $12,400,000! pic.twitter.com/vDDa2zgGXa
— Bitcoinminetrix (@bitcoinminetrix) March 18, 2024
Currently selling for $0.0142, BTCMTX can be purchased using either ETH, BNB, MATIC, USDT or bank card.
Bitcoin Minetrix is also offering investors who stake their tokens now an APY of 55%. Investors will want to hurry though, as BTCMTX’s price is scheduled to increase in just over an hour.
BTCMTX can be purchased here.
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