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The Bitcoin price printed a minor gain in the last 24 hours to trade at $98,303.34 as of 4:47 a.m. EST as investors slowly start to accumulate the largest crypto by market cap.
Despite the uptick, the BTC price is still down more than 1% from its all-time high. The market leader reached a new record of $99,655.50 after failing to break above the psychological $100K mark.
Bitcoin Price Rebounds Off Of Support
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price bounced off of the support level at $95,619.60, and is now attempting to break above the barrier at $99,616.08. Should it overcome this major threshold within the next 12 hours, it might have the technical foundation needed to keep rising in the short term.
However, the Bitcoin price getting rejected by the $99,616.08 resistance in the next 12 hours could prevent any bullish move from happening. In this alternative scenario, BTC might end up retesting the $95,619.60 support. Falling below this safety net could then lead to the Bitcoin price plunging to as low as $91,697.33.
Bitcoin Price About To Trigger 2 Major Bullish Technical Flags
From a technical perspective, indicators on BTC’s 4-hour chart suggest the crypto’s price might keep climbing in the next 24 hours. Major bullish technical flags are on the verge of being triggered by both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators.
In the last couple of hours, the RSI line has risen towards the Simple Moving Average (SMA) line. Now, the former is attempting to cross above the latter. Should the RSI clear the SMA line, it could be seen as a sign that buyers have gained the upper hand against sellers on BTC’s 4-hour chart.
As the RSI tries to cross above its SMA line, the MACD line is simultaneously closing in on the MACD Signal line. The narrowing gap between the MACD and MACD Signal lines, with the MACD below the Signal line, suggests BTC’s negative phase might be nearing its end. A cross between these two lines might indicate that the Bitcoin price has entered a new bullish cycle.
While BTC tries to break $100K, investors are flocking to a new PolitiFi token by the name of FreeDum Fighters (DUM) for the ultimate on-chain political clash and post-election gains.
An On-Chain Political Clash
With the highly-anticipated US election now over and the market turning their attention away from the PolitiFi sector, FreeDum Fighters (DUM) has the opportunity to become the go-to meme platform for US politics.
Initially, the project provided investors a satirical way to stay up to date with all of the latest developments in US politics prior to the elections. With Donald Trump taking the White House for a second term, FreeDum Fighters now intends on staying around for the long term, cementing its position in the nascent PolitiFi space.
At the heart of the meme coin’s ecosystem is the clash between Magatron, representing Trump, and Kamacop, representing Kamala Harris. Although Trump has emerged victorious, the on-chain clash between the Republican and Democratic parties is still very much alive in the FreeDum Fighters ecosystem.
Political die-hards and crypto investors can choose which candidate they want to back by locking up tokens in one of the candidate’s staking pools, earning high passive rewards in the process.
Currently, anyone who backs Magatron will unlock access to a 245.44% staking APY. Meanwhile, Kamacop supporters stand to earn up to 388.97% in annual rewards.
Priorities 🫡 pic.twitter.com/raftApqA7r
— FreeDum Fighters (@Freedum_Fighter) November 19, 2024
As Trump enters his second term, new characters are set to make their way into the FreeDum Fighters ecosystem. Doge, the personification of the new Department of Government Efficiency, has already been deployed to Magatron’s team. Joining him is Dark MAGA.
Investors Rush To Buy DUM With Time Running Out
FreeDum Fighters recently added a countdown timer to its presale, which has already raised over $628K. Investors now have less than 13 days to acquire the meme coin before its launch.
Several crypto experts have stepped forward to share their bullish predictions for DUM. Among them is popular YouTuber Jacob Bury, who told his more than 44.5K subscribers that the meme coin could surge 10X after its launch.
Anyone that wants to position themselves ahead of the project’s launch surge can acquire the meme coin via the buy widget embedded on the project’s website.
Selling for $0.000095, DUM can be bought with either ETH, BNB, BASE, USDT, SOL or USDC.
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