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The Bitcoin price climbed 1% in the last 24 hours to trade at $68,037 as of 00:13 a.m. EST on trading volume that plunged 12% to $30 billion.
This comes after Microsoft announced that its shareholders will vote on December 9 regarding a shareholder proposal to invest in Bitcoin, as detailed in a filing to the SEC on Oct. 24. The company’s board, however, recommends a vote against this proposal.
Microsoft currently accepts Bitcoin for online purchases but has not invested in the cryptocurrency.
Bitcoin Price Aims For A Continued Bullish Rally
The Bitcoin price has been moving within a rising channel pattern, defined by the parallel orange trendlines, indicating a series of higher lows and higher highs, as the bulls took charge of the price around the $53,800 support zone, according to data from GeckoTerminal.
The support levels around $56,320 (horizontal dotted line) and $61,500 hold well, providing a foundation for the current uptrend.
BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs) in the 1-day timeframe, confirming the current bullish trend in the long term. Moreover, the 50-day SMA seems to be closing in on the 200-day SMA, which could form a golden cross in the coming days, supporting the incoming bullish rally.
The Relative Strength Index (RSI) is currently at 60.65, which is in bullish territory but not overbought. This suggests that there is still room for upward movement without the asset being overextended, which aligns with the possibility of further gains if resistance is broken.
Bitcoin Price Prediction
The BTC/USD chart analysis supports the bullish sentiment, with the main indicators, including the SMAs and RSI showing that the Bitcoin price could soar even higher. If the bulls sustain this trend, the price of Bitcoin could soar, as the bulls target $76,000.
However, if the bears take charge of the price at this level, the Bitcoin price could plunge back to the immediate support level at $61,500.
Meanwhile, investors looking for investment options that give them a strong say in the asset’s strategy might want to consider a new vote-to-earn crypto (V2E) called FLOCKERZ (FLOCK), which has just bolted past $1 million in funds raised in presale.
According to Crypto Zeus, a YouTuber with over 79K subscribers, Flockerz “could be huge.”
Flockerz Blasts Past $1 Million Milestone In Presale – Best Crypto To Buy Now?
Flockerz is an innovative meme coin that empowers its community, known as The Flock, through its V2E system that allows token holders to vote on important decisions and earn $FLOCK tokens as rewards.
At the heart of Flockerz is Flocktopia, a DAO where every voice counts, ensuring active members are rewarded for their participation.
One mil, oh so near, Flockers, let’s cheer! pic.twitter.com/is7WuaNGXU
— Flockerz (@FlockerzToken) October 21, 2024
In addition to V2E rewards, users can earn a massive 1,618% annual return by staking their FLOCK tokens.
With its community-driven approach, Flockerz sets a new standard for meme coins, prioritizing collective governance over rule by the few.
Flockerz sells tokens for $0.0058394 right now. With a price hike coming in about an hour, buy quickly to lock in the best price.
You can buy $FLOCK on the official website using BNB, ETH, USDT, or a bank card.
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