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The Bitcoin price soared over 8% in the last 24 hours to trade at $82,371.52 as of 9:39 p.m. EST as investors go long on the crypto.
The rise in the BTC price comes after US President Donald Trump announced a 90-day pause on some tariffs for certain countries. While some trade partners got some relief, China tariffs were raised to 125%.
Bitcoin Price Breaks A Resistance Level
Daily chart for BTC/USDT (Source: TradingView)
The Bitcoin price recovered back above the $78,139.24 support within the least 24 hours. Now, the largest crypto by market cap is attempting to overcome the next major barrier at $84,612.60. Should BTC rise above this mark, it could clear the room needed to reach as high as $91,478.28 in the short term.
However, a change in market trend or a sudden selloff could mark the end of the bullish move. Traders might start to short the Bitcoin price in this alternative scenario, which could push it back below the aforementioned $78,139.24 mark. Continued sell pressure could then lead to a test of the $74,019.83 support and a potential drop to the $67,608.94 support.
Bitcoin Price Could Keep Climbing As Technicals Show Bullish Signs
From a technical perspective, indicators on BTC’s daily chart are starting to show some bullish signs. Traders will want to keep an eye on the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), which both suggest BTC might keep climbing.
In the last 24 hours, the RSI crossed above its Simple Moving Average (SMA) line. This technical event is usually seen as an indication that bulls have gained an upper hand against bears.
Additionally, the RSI’s current reading in the high 40s suggests that there is still room for the Bitcoin price to rise before it enters overbought territory.
A major bullish technical flag is also on the verge of being triggered by the MACD, as the MACD line looks to rise to above the MACD Signal line. Should this intersection happen, it could confirm that the Bitcoin price has entered a positive short-term trend.
If the bullish signs presented by the MACD and RSI on the daily chart influence traders’ decision making, the Bitcoin price could soon flip the $84,612.60 barrier into support.
While Bitcoin tries to keep surging, investors are piling into the presale for a new meme coin called BTC Bull Token (BTCBULL). According to crypto analyst and YouTuber Alessandro De Crypto, who has over 14.4K subscribers, BTCBULL could print massive gains for investors.
Investors Can Get Free Bitcoin By Simply Holding This Meme Coin
BTC Bull Token is a Bitcoin-themed meme coin that stands out from those that came before it. What sets the project apart is the series of Bitcoin airdrops and BTCBULL token burns that will be triggered when Bitcoin reaches certain price milestones, all the way to beyond $1 million per coin.
Investors who hold BTCBULL tokens in Best Wallet (BEST) will receive free Bitcoin via an airdrop when the leading crypto’s price hits $150K for the first time. Every $50K increase in price thereafter will also trigger an airdrop.
Meanwhile, tokens will be permanently removed from the supply when Bitcoin reaches $125K. Every subsequent $25K increase will also permanently remove tokens from the supply.
The token burns are done to mimic BTC’s ever-growing scarcity, and could result in a skewed supply and demand ratio that will trigger a BTCBULL rally, especially as investors rush to buy the token to receive free BTC.
The recent rise in BTC’s price, along with the bullish technicals on the daily chart, mean that the next milestone that will trigger a BTCBULL token burn at $125K is within reach.
Experts also say that the ongoing trade tensions between the US and China could lead to additional upside pressure being applied to Bitcoin’s price. This means that BTC could reach new heights sooner than everyone thinks.
Investors Rush To Buy BTCBULL At Presale Prices
BTC Bull Token has already raised more than $4.5 million through its ongoing presale, signaling strong market demand for what the project has to offer.
Interested investors can acquire BTCBULL via the simple buy widget embedded on the project’s website.
Selling for $0.002455, BTCBULL can be bought with either crypto or bank card. Once purchased, the tokens can also be staked for a 92% APY.
Buyers who want to secure the best deal will want to act fast, because BTCBULL’s price will undergo a series of price increases as its ICO progresses. The next presale price hike is scheduled for just over 2 days.
Visit the BTC Bull Token website.
Related Articles:
- Bitwise Says Bitcoin Could Outlast Dollar
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- Top Crypto Gainers Today Apr 9
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