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The Bitcoin price dropped more than 2% in the last 24 hours to trade at $82,150.79 as of 10:17 p.m. EST as investors decrease their exposure to the leading crypto.
With this recent pullback, the BTC price is now over 6% and 13% down on the weekly and monthly time frames, respectively.
Bitcoin Price Rebounds From Support
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price rebounded off of the $80,258.09 support in the last couple of hours. Should the crypto start to rise, it might attempt to flip the resistance level at $85,494.58 into support. A 4-hour candle close above this barrier could then be followed by a climb to as high as $89,110.06 in the short term.
On the other hand, a sudden selloff or a rejection from the $85,494.58 resistance might result in a retest of the $80.258.09 support. A drop below this mark could then put the Bitcoin price at risk of plunging all the way down to $76,554.23.
Mixed Signals On The 4-Hour Chart Suggest The Bitcoin Price Could Go Either Way
From a technical standpoint, indicators on the 4-hour chart are sending mixed signals, suggesting the Bitcoin price could go either way in the coming hours. While the Moving Average Convergence Divergence (MACD) is showing bearish warning signs, the Relative Strength Index (RSI) is flashing bullish.
In the last few hours, the MACD line has dropped towards the MACD Signal line, a classic sign of diminishing bullish momentum. Now, the two lines are at almost identical levels.
Should the MACD line fall below the MACD Signal line, it could indicate that BTC has entered a negative trend. This could then be followed by a Bitcoin price drop.
Buyers seem to be growing stronger against sellers, however, with the RSI rising towards its Simple Moving Average (SMA) on the 4-hour chart.
Increasing RSI values are often interpreted as an indication of growing buyer strength. If the RSI breaks above the SMA, it could tip the scales in buyers’ favor. They could then rebuild the lost momentum and push the Bitcoin price up.
While Bitcoin tries to recover, investors shift focus to a new presale meme coin called BTC Bull Token (BTCBULL) to grow their portfolios.
Experts predict great things for the project’s future. Among them is an analyst at 99Bitcoins, a prominent crypto YouTube channel that boasts over 725K subscribers, who says BTCBULL could soar 10X after its launch.
A Meme Coin Offering Investors Free Bitcoin
BTC Bull Token is a Bitcoin-themed meme coin project that wants to support the largest crypto by market cap on its journey to $1 million per coin and beyond. As Bitcoin soars to new heights, the project rewards its token holders with BTC airdrops and BTCBULL token burns at certain price milestones.
According to the project’s website, the next BTC airdrops will happen when Bitcoin reaches $150K and $200K for the first time.
Meanwhile, BTCBULL tokens will be permanently removed from the supply when Bitcoin hits $125K, $175K and $225K for the first time. By decreasing the circulating supply of the meme coin, the team is making the crypto more scarce. This, combined with the demand from investors looking to receive free BTC, could lead to a skewed supply and demand ratio as well as a subsequent price surge.
While the market has traded flat recently, some investors are taking advantage of this period to buy the dip. This could lead to a Bitcoin rally if the rest of the market catches on, putting the next price milestone of $125K within reach.
BTCBULL presents investors with the ultimate Bitcoin play, by giving them a token that has both meme coin appeal and ties to BTC. With the chance to receive free BTC with a meme coin that is set to become more scarce, BTCBULL could open the door to massive gains for investors.
BTCBULL Presale Charges Towards $4 Million
Investors are rushing to buy BTCBULL during its ongoing presale, which has already raised more than $3.5 million. This buying frenzy will most likely continue given the 119% APY on offer to anyone who purchases and stakes the meme coin at this early stage.
Interested investors can acquire BTCBULL via the buy widget embedded on the project’s website using either crypto or bank card. After getting a hold of some BTCBULL, investors can then head over to the website’s staking page to put their tokens to work.
Selling for $0.00241, BTCBULL’s price is set to undergo a presale hike in just over 2 days. Investors who want to lock in the best deal will therefore need to act fast.
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