Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price jumped 2% in the last 24 hours to trade at $108,681.57 as of 11:21 p.m. EST as investors up their exposure to the leading crypto.
With the recent uptick, the BTC price is now up more than 78% over the past year.
Bitcoin Price Could Soon Set A New All-Time High If It Breaks This Barrier
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price is attempting to flip the resistance level at $109,294.83 into support. If BTC overcomes this barrier within the next 48 hours, it could go on to soar to a new all-time high (ATH).
However, a rejection from the $109,294.83 resistance might stop the Bitcoin price in its tracks. In this alternative scenario, the crypto market leader could end up testing the closest support level at $104,830.57. Continued sell pressure at this point could then lead to a drop to below the psychological $100K mark to as low as $99,374.25.
Technicals Suggest The Bitcoin Price Might Keep Climbing
From a technical standpoint, indicators on the daily chart suggest the Bitcoin price might continue to rise through the course of the next 24-48 hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show buyers have an upper hand over sellers.
That’s as the MACD line started to break away above the MACD Signal line over the last few days, indicating growing bullish momentum. If the gap between the two lines continues to grow, it could become easier for bulls to push the Bitcoin price up higher in the short term.
Meanwhile, the RSI has risen over the past couple of days as well. Traders usually see this as an indication of growing buyer strength. While the RSI line recently sloped downward, warning of a potential pullback, the growing momentum shown by the MACD and the RSI’s positioning above the Simple Moving Average line suggest any retracement might be brief.
What’s more, the current RSI reading in the high 50s suggests there is still some room for the Bitcoin price to climb before it enters overbought territory.
As the Bitcoin price gears up for a potential new ATH, investors are FOMO buying into the presale for BTC Bull Token (BTCBULL) with just 4 days left. 99Bitcoins, a prominent YouTube channel with over 723K subscribers, says BTCBULL could soar 10X after launch.
Investors Stand To Receive Free Bitcoin For Holding This Meme Coin
As the Bitcoin price edges closer to its ATH, new meme coin BTC Bull Token might be the smartest play in the market. Unlike the hundreds of meme coins that came before it, BTCBULL’s value proposition is directly linked to Bitcoin’s price performance.
Built on the belief that the largest crypto by market cap will soar to $1 million per coin, and possibly higher, the project has set up specific price milestones that will either trigger a BTC airdrop or BTCBULL token burn.
The first of those airdrops will happen when Bitcoin breaks $150K for the first time. More rewards will then get distributed at every new $50K milestone the market leader achieves. This gives investors a way to grow their exposure to Bitcoin without having to buy BTC directly.
With the chance to receive free Bitcoin through airdrops, demand for BTCBULL is likely to soar. If a buying frenzy does erupt around the meme coin, the upside pressure on its price could be amplified by the BTCBULL token burns.
Those burns will permanently remove tokens from the supply, subsequently making the meme coin more scarce. The burns will also follow the $50K-milestone schedule, and will start when BTC breaks above $125K for the first time.
Last Chance For Investors To Buy BTCBULL At Presale Price
BTC Bull Token has raised more than $7.9 million through its presale so far, as investors bet big on the project’s future. However, with just days left until the presale ends, time is running out for investors to get in at this ground level.
Before it’s too late, investors can acquire BTCBULL via the simple buy widget embedded on the project’s website. Selling for $0.002585, BTCBULL can be bought with both crypto or bank card. Tokens can also be staked for a 51% APY.
Interested investors will want to act fast, before the project’s presale ends in around 4 days and the token’s highly-anticipated launch thereafter.
Related Articles:
- Figma IPO Filing Reveals Nearly $70M Bitcoin ETF Position And $30M In USDC
- Grayscale Crypto Fund Holding Gets SEC Greenlight For ETF Conversion
- The Azuki NFT Team Launches An Anime Studio – Here’s More Details
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
