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The Bitcoin price pumped over 5% in the last 24 hours to trade at $92,910.20 as of 9:40 p.m. EST as investors rush to buy the crypto.
With the recent surge, the BTC price is now up more than 10% on the longer-term weekly time frame as well.
Bitcoin Price Trying To Break Its Second Resistance Level In 24 Hours
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price breached the resistance level at $84,993.15 in the last 24 hours, and is now attempting to flip the next major barrier at $94,650.81 into support. Should the crypto king clear this next resistance, it could have the foundation needed to rise to as high as $103,067.40 in the short term.
However, a rejection from the $94,650.81 barrier or a sudden selloff could mark the end of BTC’s bullish move. In this alternative scenario, the Bitcoin price could end up testing the recently-breached $84,993.15 level as support. Extreme sell pressure might even push the crypto’s price all the way down to $75,583.11.
Bitcoin Price Could Keep Climbing As Technicals Remain Bullish On The Daily Chart
From a technical standpoint, indicators on BTC’s daily chart suggest the leading crypto’s price might keep climbing in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show bulls currently have the upper hand.
That’s after the MACD line started to break away above the MACD Signal line over the past 48 hours. Traders usually see the MACD line positioned above the Signal line as an indication that a crypto is in a positive short-term trend. The growing margin between the two technical indicators could also be interpreted as a sign of growing bullish momentum.
Meanwhile, RSI readings have soared from the mid 40s to above 60 over the past few days, signaling growing buyer strength. What’s more, the current reading above the neutral 50 mark in the mid 60s suggests that bulls are in control and that there is still room for the Bitcoin price to rise before it enters overbought territory.
Should the bullish technical signs presented by the MACD and RSI on the daily chart influence traders’ decision making, they might try to push the Bitcoin price above $94,650.81 soon.
While Bitcoin tries to keep climbing, investors are also buying into a new meme coin called BTC Bull Token (BTCBULL).
Several experts have stepped forward to share their bullish predictions for the crypto. Among them is an analyst at the 99Bitcoins YouTube channel, which has over 725K subscribers. In a recent video, the analyst predicted 10X gains for BTCBULL holders once the meme coin launches.
A Meme Coin Offering Holders Bitcoin Airdrops
BTC Bull Token is a meme coin backed by the strong belief that Bitcoin will soar all the way to above $1 million per coin. As the leading crypto rises to new heights, the BTC-themed meme coin will reward its investors with multiple Bitcoin airdrops and BTCBULL token burns at certain price milestones.
With the recent surge in the Bitcoin price in the last 24 hours, the next milestone that will trigger a Bitcoin airdrop at $150K is much closer. After that, every $50K increase in the crypto market leader’s price will result in another airdrop. This could allow BTCBULL holders to grow their Bitcoin exposure without having to directly buy into BTC first.
Meanwhile, the next BTCBULL token burn will happen when BTC reaches $125K for the first time. Thereafter, every subsequent $25K increase will also permanently remove tokens from the supply.
The combination of the Bitcoin airdrops and BTCBULL token burns could result in a skewed supply and demand ratio. As investors rush to buy the meme coin to get in on the BTC airdrops, the shirking supply will make BTCBULL more scarce, which will ultimately drive up its value. This could then trigger the massive rally predicted by the 99Bitcoins analyst.
BTCBULL’s Blockbuster Presale Closes On $5 Million
BTC Bull Token is drawing investors in with its ongoing presale, and has already raised more than $4.9 million in early-stage funding. There’s still time left for investors that want to get in on this ground level.
Selling for $0.002475, BTCBULL can be bought with both crypto or bank card through the simple widget embedded on the project’s website. Once bought, the BTCBULL tokens can then also be put to work through the project’s presale staking pool that offers an 84% APY.
Buyers that want to lock in the best deal will want to act fast, because BTCBULL’s price will increase as its presale progresses. The next price hike is set for around 30 hours.
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