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As of 9:20 a.m. EST, Bitcoin Cash is trading at $230, reflecting an 8% increase in the past 24 hours. Additionally, Bitcoin Cash (BCH) experienced a substantial boost in trading activity in the last 24 hours, with its trading volume surging by 219% to reach $226 million.
BCH Surge Might Be Trapped Within Descending Triangle
Following a rejection at $327, BCH experienced a downward trend. Nevertheless, it found support at $182 and established a double-bottom pattern, successfully resisting bearish pressure and trying to drive the price below this level.
The support level has transformed into a catalyst for bullish momentum, with the bulls now in the driver’s seat and breaking out of the support zone.
Further enhancing the optimistic perspective, examining the 50-day and 200-day simple moving averages shows a notable SMA crossover at $121. Moreover, the 50-day moving average immediately supports BCH’s price, currently $213.
The Relative Strength Index (RSI) is recovering from its neutral level of 50, currently trending upward at 61 and approaching the overbought region, marked at 70. This suggests a surge in buying pressure, raising the likelihood of the RSI entering the overbought zone.
BCH exhibits a bullish trend, further validated by candlesticks trading above the 50-day Simple Moving Average (SMA). Two critical levels to watch are $290 and $335.
Meanwhile, should the descending triangle’s upper boundary prove strong resistance, bears could push the price down to the $182 support zone. This aligns with the 200-day moving average, where bulls may regroup to mount a vigorous upward push in the price.
Buy BTCMTX, Participate in Stake to Mine, Earn Rewards
Bitcoin Minetrix (BTCMTX) is pioneering a novel approach to Bitcoin mining by becoming the first tokenized Bitcoin cloud mining operation, marking a significant development in the cryptocurrency industry.
Moreover, by introducing its stake-to-mine feature for high returns, BTCMTX is poised to set new benchmarks as the presale phase enters stage 2. Consequently, this could lead to significant price appreciation and increased trading volume. BTCMTX has the potential to become a major player in the cryptocurrency market.
#BitcoinMinetrix vs Conventional Cloud Mining
Risk Assessment: 📊#BTCMTX = Smooth withdrawals and selling options.
Traditional cloud mining = Zero reimbursements, payouts influenced by market volatility. pic.twitter.com/JZx2fqt3bB
— Bitcoinminetrix (@bitcoinminetrix) October 15, 2023
Investors can accumulate credits for cloud-based Bitcoin mining by staking their $BTCMTX tokens in a smart contract pool.
The earned credits are ERC-20 tokens that cannot be transferred to others. These secondary tokens must be converted into specified BTC cloud mining time or a portion of mining earnings. Maintaining mining credits’ non-tradeable status ensures their security and reliability.
The project currently generates 158.5 tokens for each Ethereum (ETH) block, resulting in an impressive annual percentage yield (APY) of 368%. Furthermore, over 112 million tokens have already been staked, contributing to this high APY through token rewards.
Buy BTCMTX Now, Join $30,000 Minedrop Winners
The BTCMTX presale has only 13 days left in stage 2 of its ongoing presale. This presale has garnered $1,588,040.68 in funding, showing strong investor interest in the platform. Each token is $0.011. The tokens’ soft cap is $3.094 million.
🎉 #BitcoinMinetrix $30,000 Minedrop Is Now Live! 🎉
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for the chance to win one of ten $3,000 $BTCMTX Prizes! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N— Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
During the presale phase, the BTCMTX team has targeted raising over $15 million in funding. This allows investors to get 77.5% of the total token supply. Furthermore, 22.5% of the tokens are earmarked for community initiatives and staking rewards, promoting community participation and safeguarding token stability.
The Bitcoin Minetrix team allows you to join other participants in the $30,000 Minedrop giveaway through six entry methods. Consequently, it attracted the attention of prominent cryptocurrency influencers who expect significant returns and view it as a disruptive force for smaller investors.
One such influencer is Conor Kenny, a popular YouTuber boasting over 166,000 subscribers, who has expressed his excitement about the project’s ability to transform the industry. He is highly confident that the project will revolutionize businesses and lives.
The Bitcoin Minetrix BTCMTX token presale is open to everyone, and entry is just $10. Besides, it is an excellent opportunity for investors to get in early and benefit from Bitcoin Minetrix growth.
The presale gives investors access to exclusive bonuses and discounts. Don’t miss this chance to invest in Bitcoin mining’s future. Connect your Web3 wallet to BitcoinMTX and buy Bitcoin Minetrix BTCMTX tokens with ETH, BNB, USDT, or bank cards.
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