Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin Cash Price soared over 22% in the last 24 hours to trade at $376.52 as of 6:06 a.m. EST as investors go long on the crypto.
The surge in the BCH price comes even amid growing fears of a global trade war due to trade tariffs being imposed by US President Donald Trump.
Canada and Mexico have already announced retaliatory import levies on the US after Trump’s 25% tariffs came into effect yesterday. Trump has also doubled tariffs on China and it, too, retaliated.
Bitcoin Cash Price Trying To Establish A Position Above A Major Resistance
4-hour chart for BCH/USD (Source: GeckoTerminal)
The Bitcoin Cash price was able to breach a resistance level at $370.55 in the last couple of hours, according to data from GeckoTerminal. Should the crypto close a 4-hour candle above this threshold within the next 12 hours, it could have the foundation needed to keep rising in the short term. Traders might subsequently push BCH to $396.26.
On the other hand, the Bitcoin Cash price failing to establish a position above $370.55 could lead to a pull back. In this more bearish scenario, the altcoin might end up testing the recently-flipped $350.09 mark as support. Continued sell pressure should BCH fall to this price point could then lead to a plunge to as low as $325.55.
Buyers Looking To Push The Bitcoin Cash Price Further Up
From a technical perspective, indicators on BCH’s 4-hour chart suggest the Bitcoin Cash price might keep rising in the next few hours. More specifically, Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are flashing bullish.
In the last 24 hours, the 9 EMA crossed above the 20 EMA line. This suggests the Bitcoin Cash price has entered a short-term positive cycle. With the gap between the two EMAs growing, it seems BCH’s bullish momentum is gaining strength.
Additionally, RSI readings have surged from just below 50 to the low 70s, an indication of increasing buyer power. While high RSI readings warn a crypto’s downside potential is greater than its upside potential, and are subsequently seen as a sell signal, it’s not unusual for the RSI to remain high when a crypto is pumping.
While the Bitcoin Cash price soars, traders are flocking to a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) that is giving away real Bitcoin.
According to Alessandro De Crypto, a prominent YouTuber with over 14.7K subscribers, BTCBULL could print massive gains for investors.
A New Meme Coin Giving Investors Free Bitcoin
BTC Bull Token aims to support the largest crypto by market cap on its journey towards $1 million and beyond.
As BTC reaches certain price milestones, the project will reward its holders with BTCBULL token burns and Bitcoin airdrops.
The next price milestones that will trigger BTC airdrops to BTCBULL token holders are $150K, and there will be more free BTC for every $50k increase after that. There will also be a massive BTCBULL airdrop when Bitcoin hits $250K for the first time, according to the project’s website.
Along with the chance to receive free Bitcoin via airdrops, BTCBULL investors could also see their holdings increase in value through the project’s scheduled token burns.
Similar to the Bitcoin airdrops, tokens will be permanently removed from the supply when BTC hits certain price milestones, increasing the meme coin’s scarcity.
The next price targets that will trigger these burns are $125K, $175K and $225K.
With Trump forging ahead with the US crypto strategic reserve, which will include Bitcoin and several altcoins, BTC Bull Token might be the ultimate play for investors looking to maximize their returns in the next potential crypto market rally.
BTCBULL investors can also stake their tokens for a huge 133% annual return.
BTC Bull Token Presale Surges
Investors are pouring capital into BTCBULL’s ongoing presale, with the project’s total raise already exceeding $3.2 million.
Investors interested in participating in the ICO can do so by purchasing BTCBULL through the buy widget embedded on the project’s website. Selling for $0.002395, the meme coin can be bought with either crypto or bank card.
Anyone looking to get BTCBULL at the best presale rate will want to act fast because the token’s price will undergo a series of increases as the ICO progresses.
The next price hike will happen in less than 2 days.
Visit the BTC Bull Token website.
Related Articles:
- Pro-XRP Lawyer Slams Bitcoin Maxis For Trump Criticism
- Bitwise Dogecoin ETF Awaits SEC Verdict
- Rare Punk Sells For $2.1M
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
