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The Bitcoin price edged up by a fraction of a percent in the last 24 hours to trade at $93,438 as of 02:36 a.m. EST on trading volume that plunged 31% to $82 billion.
This comes as CNBC market commentator Jim Cramer says that cryptocurrencies, especially BTC, should have a place in every investor’s portfolio.
BTC fell 2% after the comments, but has since recovered slightly, according to data from GeckoTerminal.
Bitcoin Price Gearing Up Towards A Bullish Trend Reversal
The BTC/USD chart analysis shows a consistent upward movement over the past few weeks, as the Bitcoin price is forming higher highs and higher lows, within the rising channel pattern.
BTC has recently breached the lower boundary of the rising channel, which suggests that the price of Bitcoin is currently on a correction. The slight correction has forced BTC to trade below the 50-day Simple Moving Average (SMA). However, BTC price still trades well above the 200-day SMA, which is an indication that the Bitcoin price may still soar.
The RSI has cooled off significantly from overbought levels and is now near the midline (50), currently at 44. This indicates reduced bullish momentum and signals consolidation or the possibility of a minor pullback.
The Stochastic RSI 14 3 3 is oversold but starting to cross back upwards, indicating the potential for a bounce. This suggests a short-term recovery could be imminent if confirmed by price action.
If the current trend continues, the price of Bitcoin could plunge further down to the 200-day SMA, around $81,500.
However, if the bulls pick up momentum at this level to push the Bitcoin price through a sustained bullish trend reversal, BTC could soar, as the bulls target $100,000.
Meanwhile, investors who are looking for diversification opportunities might consider the newly launched Best Wallet (BEST) presale, which YouTuber Cilinix Crypto, with over 77K subscribers, highlights as a crypto with real utility.
Best Wallet Presale Amasses Over $1.3 Million
Best Wallet is a Web3 crypto wallet that offers advanced features and an intuitive interface, and sets itself apart from traditional wallets like MetaMask with innovative features.
One of those is that it allows users to access exclusive tools like “Upcoming Tokens,” which provide early access to presales like BEST itself, and many others.
🔥 The $BEST token presale is officially live! 🔥
For the next two weeks, this exclusive opportunity is only available to Best Wallet users, so take advantage while you can!
Join the presale now and secure your tokens at a discounted price. 🚀
Download the app! 📲… pic.twitter.com/VItxcDHAoE
— Best Wallet (@BestWalletHQ) November 11, 2024
The Best Wallet Token, or BEST, is an ERC-20 token built on the Ethereum blockchain, featuring a total supply of 10 billion tokens. Its presale began on November 11th, with only 4.5% of the total supply of tokens available, aiming for a $10 million hard cap.
In just a little more than two weeks, BEST Token has amassed over $1.3 million in funds raised.
No more missing out on early-stage #crypto projects! 💸
With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and buy presale tokens directly from the app!
Download now! 👉 https://t.co/he5kzra7TY pic.twitter.com/ZcNZ1b6Up1
— Best Wallet (@BestWalletHQ) October 26, 2024
Investors can currently purchase $BEST for $0.02280. Buy soon to lock in the best deal as the price will increase in about 32 hours.
To join the presale, download Best Wallet at the official $BEST Token website here. Tap on the Upcoming Tokens section to purchase $BEST tokens.
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