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The Bitcoin price jumped over 2% in the last 24 hours to trade at $99,0044.08 as of 6:16 a.m. EST.
The BTC price was able to breach the $100,000 barrier in the last 24 hours to soar to as high as $100,781.59. It has since retraced back below the psychological level, but is still up more than 5% on the 7-day time frame.
Bitcoin Price Hovering Near The $100K Mark
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price is trying to flip the resistance level at $100,000 back into support as it trades in a positive price channel. Should the leading crypto manage to close a 4-hour candle above this technical barrier within the next 12 hours, BTC could continue to climb and rise to $102,674.45 in the short term.
However, a rejection from the $100,000 resistance level could stop the Bitcoin price in its tracks and invalidate the bullish thesis. Traders might start to enter into a short position in the crypto in this alternative scenario. BTC could then end up testing the $97,840.71 support. A break below this mark might be followed by the Bitcoin price plugging to $96,447.20.
Technicals Warn That The Bitcoin Price Will Drop
From a technical standpoint, indicators on BTC’s 4-hour chart warn the Bitcoin price might drop in the next couple of hours. Firstly, a major bearish technical flag is on the verge of being triggered by the Relative Strength Index (RSI).
In recent hours, RSI readings dropped from the high 70s to the low 60s. Now, the RSI line is about to cross below its Simple Moving Average (SMA) line. Should these technical indicators intersect in the coming hours, it could signal that sellers have taken control of the Bitcoin price.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is collapsing towards the MACD Signal line. Traders might interpret the narrowing gap between the two lines as an early sign of a bearish shift in BTC’s momentum. If the MACD line continues to fall, it could also fall below the Signal line to indicate that the Bitcoin price has entered a negative cycle.
As BTC tries to establish a position above $100,000, investors are piling into a new presale token called Best Wallet (BEST). YouTuber Crypto Gains, with over 141K subscribers, says BEST has the potential to soar 10X after its launch.
The Only Wallet Investors Need To Store, Grow And Secure Their Crypto Assets
Best Wallet is the ultimate crypto custody solution, offering users multiple features that enable them to store, grow and secure their digital assets all within one app. The wallet is a self-custody solution. This means that users are the only people that have access to their private keys, ensuring the highest degree of security possible in the Web3 sector.
Some of the top features available within the app include the ability to instantly swap between tokens on more than 60 blockchains, the option to stake crypto for passive income, and the ability to participate in the growing iGaming space.
Perhaps the most popular feature within the Best Wallet app is the “Upcoming Tokens” section, which flags up-and-coming cryptos with high growth potential. Two recent tokens that were flagged by this feature are Catslap (SLAP) and Pepe Unchained (PEPU), both meme coins that soared after launch.
There are also additional features and benefits available to anyone who buys BEST tokens, including reduced transaction fees, early access to new projects, higher staking rewards and the option to take part in the project’s governance.
Best Wallet Raises Over $7.2 Million Through Its Parabolic Presale
Best Wallet has already caught the eye of investors, with its ICO soaring past $7.2 million. Apart from the additional benefits and features offered to BEST holders, another potential reason for the high levels of interest at this early stage could be the 251% APY on offer to presale investors who stake their BEST tokens.
Buying $BEST tokens online made easy! 🔥
Learn how to purchase $BEST through your browser with our latest step-by-step video guide.
Head over to our website to secure your tokens quickly and safely.
📲 https://t.co/he5kzra7TY pic.twitter.com/dAsIjHBWXf
— Best Wallet (@BestWalletHQ) January 15, 2025
Anyone can unlock these attractive passive crypto rewards. The first step is to purchase BEST using the simple buy widget embedded on the project’s website.
Selling for $0.023625, BEST can be bought with both crypto and bank card. Buy before a price increase in less than 38 hours.
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Best Wallet - Manage Your Crypto
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