Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price dropped over 4% in the last 24 hours to trade at $84,503.94 as of 9:55 p.m. EST as investors dump their holdings in the leading crypto on the market.
Following this latest decrease, the BTC price is now down more than 13% on the weekly time frame as well.
Bitcoin Price Reclaims A Key Support
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price has reclaimed the support at $83,648.54 after briefly dropping below this mark in the last few hours. As a result, the largest crypto by market cap might try to flip the resistance at $85,971.15 into support. Should it close a 4-hour candle above this barrier, BTC could have the foundation needed to break above $88,444.73 and rise to as high as $90,884.93.
On the other hand, a more bearish scenario might see the Bitcoin price drop below the recently-reclaimed $83,648.54 support. Losing this technical safety net could end up exposing BTC to the risk of plunging to $81,888.07 in the short term.
Technicals Suggest Buyers Might Soon Take Control Of The Bitcoin Price
From a technical perspective, indicators on BTC’s 4-hour chart suggest the Bitcoin price might start to climb soon. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are starting to show early bullish signs.
BTC’s bearish momentum seems to be cooling off, as suggested by the MACD line that is rising towards the MACD Signal line. Should these two lines cross in the next few hours, it might signal that the Bitcoin price has entered a positive trend.
Meanwhile, RSI readings have been on the rise in the last couple of hours as well. Traders usually see increasing RSI values as an indication of growing buyer strength. Now, the RSI is also attempting to break above its SImple Moving Average (SMA) on the 4-hour chart. This potential intersection of the RSI and SMA might signal that buyers have taken control of BTC.
As the Bitcoin price tries to recover, investors are turning their attention to a new meme coin called BTC Bull Token (BTCBULL) to buy the dip. According to YouTube Channel Yellow Trades, which has over 62.8K subscribers, BTCBULL has the potential to turn $100 into $10,000.
A Meme Coin Giving Investors Free Bitcoin
BTC Bull Token is a new Bitcoin-themed meme coin that aims to support the leading crypto on its journey to beyond $1 million per coin. The project will reward token holders through BTC airdrops and BTCBULL token burns as the Bitcoin price reaches new milestones for the first time.
By simply holding BTCBULL tokens in Best Wallet, investors will receive free BTC when Bitcoin hits $150K and $200K. Meanwhile, BTCBULL tokens will be permanently removed from the supply, increasing the crypto’s scarcity, when Bitcoin reaches $125K, $175K and $225K for the first time.
With BTC’s price currently down, now is the perfect time for investors to increase their Bitcoin exposure as the market will likely buy the dip soon. BTCBULL, with its token burns and BTC airdrops, might be the best Bitcoin play in the market, especially if the Bitcoin price starts to recover.
BTC Bull Token’s Presale Closes On $3 Million
Even with the recent market downturn, BTC Bull Token’s presale continues to pull investors in. As such, the project’s presale is closing on the $3 million milestone.
Given the bullish predictions by experts, the scheduled BTC airdrops, and the BTCBULL token burns, the buying frenzy at this early stage will likely continue.
There is also an attractive 149% APY on offer to presale investors that could attract more capital in the coming days.
To get in on these rewards, investors will first need to buy BTCBULL tokens through the simple widget embedded on the project’s website. Selling for $0.002385, the meme coin can be purchased with either crypto or bank card.
After acquiring some BTCBULL, investors then need to navigate to the staking page on the website and lock up their tokens to start earning.
Investors interested in locking in the best ICO rate will want to act fast, because BTCBULL’s price is scheduled to undergo a series of increases as its presale progresses.
Visit the BTC Bull Token website.
Related Articles:
- Strategy Stock Price Loses A Quarter Of Its Value In Five Days
- Eric Trump Says ”Buy The Dip”
- Ordinal Maxi Biz Surges +4,000% In Daily NFT Sales Volume
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
