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The Bitcoin price dropped by a fraction of a percent in the last 24 hours to trade at $66,892 as of 03:31 a.m. EST on trading volume that plunged 24% to $26.9 billion.
This comes as the analyst and trader pseudonymously known as Altcoin Sherpa says that Bitcoin could soar almost 50% to over $100,000 later this year.
$BTC: This is the trading range
anything in this area is just noise
we're still chopping around and bullish HTF/ chop on LTF
Tranquilo, we're still going to 100k+ later this year IMO pic.twitter.com/c4TuTEmdhc
— Altcoin Sherpa (@AltcoinSherpa) June 12, 2024
According to the analyst, the 200 exponential moving average (EMA) over the short term acts as a possible pointer for BTC price direction.
Bitcoin Price Gearing Up For A Breakout Above $72,605
The Bitcoin price has been in a markup phase since mid-May, as bullish investors capitalized on the formation of the inverse head and shoulders pattern to push the token up. However, the surge faced some resistance around $72,184, according to data from GeckoTerminal shows.
BTC price is currently trending inside a consolidation zone and is currently upheld by a strong support level of around $66,000.
However, the Bitcoin price dropped below both the 50-day and 200-day Simple Moving Averages, which act as the immediate resistance zones around $67,448 and $69,177, respectively.
The Relative Strength Index (RSI) is trading downwards from the 50-midline level as it closes in on the 30-oversold level, currently at 42, a signal of intense selling pressure.
Bitcoin Price Prediction
The Bitcoin price analysis shows a bullish bias, as the bulls aim to push the token over the consolidation channel, targeting $77,000 in the coming weeks.
However, if the bears continue selling and break the $66,000 support, BTC could tumble all the way to the next support zone around $56,000.
Bitcoin bulls aiming for a bullish trend reversal is great news for 99Bitcoins, a presale that’s raised more than $2.1 million.
According to crypto analyst and YouTuber Jacob Bury, $99BTC could potentially surge 10X after its launch.
99Bitcoins Presale Raises Over $2.1 Million, Hurtling Towards The $3 Million Milestone
The 99Bitcoins (99BTC) platform has become a crucial resource for newcomers navigating the complexities of the crypto world. It has over two million registered users for its courses and more than 700,000 subscribers on its YouTube channel.
Its latest innovation is the launch of its ICO, which is fueling a ground-breaking learn-to-earn (L2E) model. 99BTC is set to gamify crypto education by allowing its users to tackle challenges and complete lessons to earn higher rankings and rewards through $99BTC tokens.
99Bitcoins is set to launch its token initially as an ERC-20 token but will integrate its token into the Bitcoin network using the BRC-20 token standard.
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
Token holders can earn passively from the project’s staking option, which offers an annual percentage yield (APY) of 777%.
How many of these bad boys will @PeterSchiff be popping? 💊#99Bitcoins #CryptoCurrency #BTC pic.twitter.com/yIEeuGsSdx
— 99Bitcoins (@99BitcoinsHQ) May 26, 2024
You can buy $99BTC tokens for $0.00109 each at present. But with a price hike coming in less than 4 days, don’t wait too long to secure the best deal.
To join the presale, buy $99BTC from the official website here using ETH, USDT, or a bank card.
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