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The Bitcoin price rose over 2% in the last 24 hours to trade at $80,215.54 as of 9:38 p.m. EST as investors slowly start to buy into the crypto.
Despite the recent gain, the BTC price remains 3% in the red on the weekly time frame.
Bitcoin Price Breaks A Key Resistance
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price recovered to back above the resistance at $78,139.24 in the last 48 hours and is now attempting to rise to the next major barrier at $84,612.60. Should the leading crypto overcome this second resistance, it could have the foundation needed to rise all the way up to $91,478.28 over the course of the rest of the week.
However, a sudden selloff due to a Trump Tariff development or a change in trend in the broader market could lead to the Bitcoin price dropping below the aforementioned $78,139.24 mark. Thereafter, continued pressure from sellers might push the Bitcoin price down to the $74,019.83 support.
Bulls Might Take Control Of The Bitcoin Price Soon
There are early technical indications that BTC’s bearish trend might undergo a bullish reversal soon. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing positive signs.
In the last few hours, the MACD line has started to rise towards the MACD Signal line. While the current orientation of the two technical indicators with respect to each other might be bearish, the shrinking margin between them could lead to a bullish crossover.
If the MACD line breaks above the MACD Signal line in the coming 48 hours, it could indicate that BTC has entered a new bullish phase.
Meanwhile, the RSI line has been rising towards its Simple Moving Average (SMA) line on the daily chart. With the current reading below the neutral 50 mark, bears still seem to have a slight upper hand over bulls.
However, the positive slope of the RSI line suggests buyers might soon take control of the Bitcoin price. The RSI either crossing above the SMA or rising above 50 could serve as confirmation of a bullish shift in power.
While the Bitcoin price looks to keep climbing, investors continue buying into a new presale meme coin called BTC Bull Token (BTCBULL) to grow their portfolios. According to crypto analyst and YouTuber Alessandro De Crypto, with over 14.4K subscribers, BTCBULL could print massive gains for investors once it launches.
A Meme Coin Offering Investors Free Bitcoin
BTC Bull Token is a Bitcoin-branded meme coin that aims to support the largest crypto by market cap as its price embarks on a journey to the $1 million mark. As BTC soars to new heights, the project will reward its token holders with free Bitcoin via airdrops. There will also be a series of BTCBULL token burns, making the project’s native meme coin more scarce.
The next BTC airdrop will take place when the Bitcoin price reaches $150K for the first time. Thereafter, every $50K increase in the crypto king’s price will trigger another airdrop.
Meanwhile, BTCBULL tokens will be permanently removed from the supply when BTC reaches $125K for the first time, with every subsequent $25K increase in Bitcoin’s price triggering another token burn.
The opportunity to receive free Bitcoin via airdrops, combined with the shrinking BTCBULL supply, could lead to a skewed supply and demand ratio. This might then result in a massive rally for the meme coin.
The markets are currently fragile, with drops across the board following Trump’s tariff announcements. However, BTC has been standing strong. While the crypto dropped below the $80K mark, it has since recovered. This resilience strengthens the bull case for Bitcoin, and puts the next price milestone of $125K, which will trigger a BTCBULL token burn, within reach.
BTCBULL Token Presale Races Towards $5 Million – Best Crypto To Buy Now?
BTC Bull Token has been drawing investors in with its ongoing presale, and has already raised more than $4.4 million in early-stage funding. With the bullish predictions from experts like Alessandro De Crypto and the opportunity to receive free Bitcoin by simply holding BTCBULL, the buying frenzy around BTCBULL’s ICO is to be expected.
Investors interested in getting in on this ground level can buy BTCBULL tokens via the simple widget embedded on the project’s website. Selling for $0.00245, BTCBULL can be bought with both crypto and bank card. Tokens can also be staked for a 93% APY.
However, investors who want to secure the best deal will want to act fast. BTCBULL’s price will undergo a series of presale increases as its ICO progresses. The next hike will happen in around 31 hours.
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- NFT Weekly Sales Plummet Amid Trump’s Tariff War Fears
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