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The Bitcoin price edged down a fraction of a percentage in the last 24 hours to trade at $94,786 as of 12:44 a.m. EST on trading volume that surged 60% to $40.7 billion.
This slight decrease in the BTC price comes as Michael Saylor’s Strategy looks to raise another $2 billion via 0% convertible notes to purchase more Bitcoin, which could potentially add to the firm’s BTC stash, standing at 478,740 BTC tokens.
Strategy Announces Proposed Private Offering of $2.0B of Convertible Senior Notes. $MSTR https://t.co/EBOMdLlgdq
— Michael Saylor⚡️ (@saylor) February 18, 2025
Bitcoin Price Analysis: Falling Wedge Formation Signals Potential Breakout
The BTC price analysis shows that the token is currently trading at $94,786.62, experiencing a slight decline of -0.26% over the last session.
The Bitcoin chart also presents a clear falling wedge pattern, a bullish reversal formation that typically precedes a breakout to the upside.
This pattern is defined by descending trendlines converging, indicating a period of price compression before a potential strong move.
Over the past few weeks, BTC price action has remained trapped inside this wedge, making lower highs and lower lows, according to GeckoTerminal data.
However, the price of Bitcoin is now testing the upper boundary of this wedge, signaling a possible reversal if buying pressure increases.
The downward trend has also been accompanied by declining volatility, which is often a precursor to a breakout.
A breakout above the upper wedge resistance, around $96,500–$97,000, could trigger a move toward higher levels, while failure to hold the support near $94,000 may extend the downside.
As a result of the downtrend, the price of Bitcoin now trades below both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart.
Meanwhile, the Relative Strength Index (RSI) is at 42.91, suggesting neutral-to-slightly-oversold conditions.
The RSI is also showing signs of potential reversal from oversold levels, which aligns with the falling wedge breakout thesis.
Can BTC Recover To $106K?
The falling wedge pattern combined with neutral RSI levels suggests an imminent breakout. If the price of Bitcoin successfully breaks above $96,500, a rapid move toward $100,000 is likely.
Further bullish momentum could push BTC toward the $104,000-$106,000 range, as illustrated by the blue arrow in the chart.
However, if the Bitcoin price fails to hold the $94,000 support, it could drop toward $92,000-$90,000 before a potential recovery.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) that will give free Bitcoin to token holders. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Garners Over $2.3 Million – Best Alternative To Buy Now?
BTC Bull Token has raised an impressive $2.3 million through its ongoing presale, attracting investors looking for a new way to gain exposure to Bitcoin’s price movements.
As Bitcoin (BTC) inches closer to $100K, BTC Bull Token presents a unique opportunity—rewarding holders with real BTC airdrops when key price milestones are reached.
Unlike other meme coins that rely purely on speculation, the BTCBULL token is directly tied to Bitcoin’s price milestones, offering a tangible incentive for long-term holding.
Users who hold BTCBULL tokens as Bitcoin surpasses higher price targets, like $150,000, will receive airdrops of real Bitcoin – a rare utility among other meme coins.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
Investors who hold BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k, followed by airdrops for every additional $50,000 increase in the price thereafter.
Meanwhile, there will also be ”a huge BTCBULL airdrop” for the strongest hodlers when BTC hits $250,000, weighted by ”community sale purchase amount.”
Bitcoin Bull token holders can also earn passively by staking tokens for a 184% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.00237 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in 1 day to secure the best deal.
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