Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price dropped 3% in the last 24 hours to trade at $57,656 as of 02:34 a.m. EST on trading volume that rose 1% to $43.9 billion.
The announcements came at the end of the two-day Federal Open Market Committee (FOMC) meeting. With the pause button hit again, interest rates were held at 5.25%.
Bitcoin Price To Rally Above The $66,766 Resistance
The Bitcoin price has been trading within a consolidation channel around the $72,000 and $64,000 range, with bulls and bears struggling for dominance. The bears won the struggle, which pushed the price down to $60,000 and surged again to the resistance at $66,766, forming a rounding bottom pattern.
However, the bears seem to have taken control, pushing BTC down through a falling wedge pattern. The bearish trend is dominant, with the price falling below the lower boundary of the falling wedge.
BTC is also trading below both the 50-day and 200-day Simple Moving Averages (SMAs), which coincides with the price falling further down below the $64,000 critical support.
Moreover, the Relative Strength Index (RSI) is also trading below the 50-midline level at the 30-oversold region at 34 and aims to move to the north as the price moves up. If the bulls sustain the breakout above $56,500, the RSI could soar to the 50-midline level, an indication of intense buying pressure.
Bitcoin Price Prediction
The Bitcoin price analysis indicates that the BTC bulls are staging a breakout above the $56,500 support zone.
The bulls aim to capitalize on the formation of the rounding bottom and falling wedge patterns to push the price to breach the $66,766 resistance, as they target $70,000.
However, if the bears continue exerting pressure, BTC could still fall to the next support of around $55,800.
Meanwhile, as the BTC bulls aim to push the price higher, investors are also buying $99BTC as its presale soars to within a whisker of $1 million raised.
99Bitcoins: The Next 100X Crypto To Buy Now?
99Bitcoins (99BTC) is one of the leading crypto educators, boasting over 700,000 subscribers on the YouTube channel and more than two million registered for the website’s courses.
What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.
Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3
— 99Bitcoins (@99BitcoinsHQ) April 8, 2024
The project’s ICO aims to revolutionize crypto education with its Learn-to-Earn model, which gives investors an opportunity to earn passively by learning about blockchain. Completing courses earns $99BTC, which is similar to a cashback rewards program.
The project also integrates with BRC-20, enabling the building of dApps on the Bitcoin network.
Introducing $99BTC on BRC-20! 🎓
Since 2013, #99Bitcoins has been the go-to resource for learning about #Cryptocurrency.
We're launching a platform that enables the building of #dApps on top of the #Bitcoin network!💡#LearnToEarn rewards users on the Bitcoin blockchain.🙌
— 99Bitcoins (@99BitcoinsHQ) April 30, 2024
99Bitcoins also has a staking platform, where investors can stake $99BTC for an impressive 1,855% annual percentage yield (APY). Users can also benefit from the ongoing $99,999 BTC airdrop for the community, with winners to be announced on July 19.
According to Jacob Bury, a YouTuber and crypto analyst, investing in 99BTC could potentially turn $1k into $10K.
You can buy 99BTC tokens now for $0.00103. With a price hike coming in less than five days, buy soon for the best price.
To join the presale, you can buy $99BTC from the official website here. You have the option of buying the tokens using ETH, USDT, or a bank card.
Related News
- Best Crypto to Buy Now (2024): Top Picks for Explosive Growth! 🚀💸
- Next Crypto to Explode: Unveiling the Potential Market Shaker of 2024 🚀💥
- How to Buy Bitcoin with Credit Card
Join Our Telegram channel to stay up to date on breaking news coverage
