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The Bitcoin price rose 1% in the last 24 hours to trade at $106,639.65 as of 9:35 p.m. EST as investors slowly start to buy the crypto.
The slight uptick by the BTC price comes after US President Donald Trump’s social media platform, Truth Social, filed an S-1 form with the US Securities and Exchange Commission (SEC) to launch a dual exchange-traded fund (ETF) for Bitcoin and Ethereum.
Bitcoin Price Bounces Off Support
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price rebounded from a support level at $104,830.57 in the last couple of days. Now, the crypto market leader is rising towards a barrier at $110,285.77. Should BTC break above this obstacle within the next couple of days, it could enter into a price discovery phase towards the upside. In this case, it might even soar to a new all-time high (ATH).
However, a sudden selloff due to a change in the broader maker’s trend could lead to another test of the $104,830.57 support. Thereafter, continued pressure from sellers might result in a drop to as low as $100,531.66 in the short term.
Bulls Might Push The Bitcoin Price Higher
From a technical point of view, indicators on the daily chart suggest the Bitcoin price might rise through the course of the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bullish signals.
That’s as the MACD line rises towards the MACD Signal line, suggesting BTC’s bearish phase might be coming to an end. If the MACD line crosses above the Signal line, traders might see the technical event as a confirmation that the Bitcoin price has entered a new bullish cycle.
Meanwhile, buyers seem to be growing stronger against sellers as well, as evident by the RSI that is attempting to cross above its Simple Moving Average (SMA) on the daily chart. Similar to the MACD and Signal line, the RSI crossing above the SMA will indicate that bulls have gained an upper hand.
RSI readings have also risen over the past 24 hours, and recently crossed above 50. This has tipped the scales slightly in favor of bulls. In addition to this, the latest reading in the low 50s suggests there is still a lot of room for the Bitcoin price to climb before it enters overbought territory.
As the Bitcoin price tries to keep climbing, investors flock to the presale for BTC Bull Token (BTCBULL) that will end in less than 2 weeks. According to prominent YouTube channel 99Bitcoins, which has over 723K subscribers, BTCBULL has the potential to soar 10X after its launch.
This Meme Coin’s Investors Stand To Receive Free Bitcoin
BTC Bull Token is a new meme coin project that aims to cheer the leading crypto on all the way to $1 million and potentially even higher. As Bitcoin soars to new heights, investors will either receive airdropped BTC from the project or will see the token’s supply reduced through a BTCBULL token burn at certain price milestones.
The first of those BTC airdrops will happen when Bitcoin breaks $150K for the first time. Every new $50K milestone the crypto king achieves after that will result in another airdrop. This essentially allows investors to profit from BTC’s gains without having to buy the crypto directly and take on extra risk.
Meanwhile, the BTCBULL token burns will also happen with each new $50K milestone BTC achieves, but will start when Bitcoin breaks $125K.
The demand from investors could lead to strong upside pressure on BTCBULL’s price. Combined with the constantly-reducing supply through the token burns, the meme coin could end up rallying 10X like 99Bitcoins predicted.
Time Running Out For Investors To Buy BTCBULL At Presale Prices
BTCBULL’s presale has raised more than $7.1 million in early-stage funding so far, signaling strong investor confidence in the project’s future. With just days left until the project’s launch, the window of opportunity is rapidly closing for investors seeking to buy at ICO prices.
Interested investors can purchase BTCBULL via the buy widget embedded on the project’s website. Selling for $0.002565, BTCBULL can be bought with either crypto or bank card.
Once purchased, tokens can also be staked for a 57% APY.
Anyone looking to buy will want to hurry, because the presale will end in just over 13 days.
Learn more about BTCBULL on its official website.
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