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The Bitcoin price has soared 4% in the last 24 hours to trade at $38,000 as of 9.15 a.m. EST.
This positive sentiment is reinforced by a rare signal in Bitcoin futures that highlights the strength of bullish momentum.
An uncommon pattern associated with BTC and ETH has surfaced in the Chicago Mercantile Exchange (CME) futures market. Analysts say the pattern indicates a clear investor preference for taking long positions, or engaging in leveraged bullish speculation on these leading cryptocurrencies.
Bitcoin Price Could Break Above Ascending Channel
The Bitcoin price has been on a gradual uptrend, bouncing back from the 50-day Simple Moving Average (SMA), coinciding with a significant breakthrough above $25,900 following a short consolidation period.
The rise in BTC’s price has resulted in an ascending channel pattern. Furthermore, the current trading price is above the 50-day and 200-day simple moving averages, strengthening the positive market sentiment and establishing short-term support.
Despite a marginal decline in the Relative Strength Index (RSI), currently at 62, it has rebounded as bullish momentum takes charge, signifying robust buying pressure. For sustained upward movement, buyers must muster enough strength to surpass the $38,150 resistance level and propel the RSI beyond the overbought threshold of 70.
Bitcoin Price On The Brink
Bitcoin is on the brink of surpassing the $38,150 resistance within the ascending channel, and a breakthrough above this level is anticipated to generate momentum for bullish movements as bulls target a potential high of $48,200 in the coming weeks.
Conversely, bears might exploit the $38,150 resistance, exerting downward pressure on the price and potentially retracing to approximately $35,500 support, aligning with the lower boundary of the ascending channel.
Persistent selling pressure may trigger additional price declines, with a potential downward movement targeting the crucial support level at $32,900.
Simultaneously, investors are actively acquiring BTCMTX tokens as a Bitcoin alternative and as a play on the next Bitcoin bull run, attracted by its performance in presale and staking features.
Bitcoin Minetrix Secures $4.5 Million
Bitcoin Minetrix (BTCMTX), a new ERC-20 cloud mining platform, is gaining significant attention from investors. Having already raised more than $4.5 million, and is rapidly approaching the $5 million presale target.
BTCMTX offers a decentralized platform, allowing ordinary people to mine BTC without the need for costly equipment or the involvement of untrustworthy third parties.
Simplifying your #Bitcoin mining journey with #BitcoinMinetrix!⛏️
Discovering a tokenized cloud mining platform designed for everyone.
Mining $BTC securely and transparently with a decentralized process! pic.twitter.com/lh0WFCUqJY
— Bitcoinminetrix (@bitcoinminetrix) November 28, 2023
Investors can purchase BTCMTX tokens at a discounted rate of $0.0119 per token. The distribution plan allocates 77.5% of the total supply for presale acquisition and reserves 22.5% for rewarding token holders.
Remember that the token price will increase as the project achieves its various fund raising targets. So, purchasing now is crucial to take advantage of the current discounted rate.
Stake And Earn High APY
The Bitcoin Minetrix team has introduced additional earning opportunities for investors, anticipating the token’s listing on major exchanges. When you purchase and stake BTCMTX tokens, you earn a high annual percentage yield (APY) of 132%.
Currently, 316 million tokens have already been staked, with holders receiving over 158.5 ETH per block as a reward. The attractive APY and rewards will gradually decrease as more tokens are staked. This underscores the advantage of buying and staking BTCMTX for any investor.
Recently, Cilinix Crypto, a crypto trader, and YouTuber known for identifying low-cap crypto presales with significant growth potential, reviewed BTCMTX. In his analysis, he sees BTCMTX as having more than 100% potential and encourages fellow traders to look closely at it.
To get BTCMTX, connect your Web 3 wallet to the official Bitcoin Minetrix site. Use your ETH, BNB, or BNB to make the purchase. If you prefer, you can also buy it using your bank card.
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