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The Bitcoin price edged down over 1% in the last 24 hours to trade at $104,199 as of 8:45 p.m. EST on trading volume that surged 5% to $39.8 billion.
The drop comes as U.S.-China trade tensions reignited after US President Donald Trump accused China of violating the terms of their preliminary trade agreement. That cast doubt on the fragile diplomatic progress achieved just weeks earlier.
Bitcoin Price At Crossroads – 12% Crash Or 18% Surge?
The BTC price on the 3-day chart is currently chilling at $104,199, with a high of $108,291 and a low of $105,042 over the last 24 hours. The Bitcoin price action has exhibited a solid uptrend since late 2024, with a robust support zone ranging from $85,000 to $90,000.
BTC had been smacking into a resistance zone at $105,000, marked by those red arrows where sellers kept pushing the price down. However, on May 19, the price finally broke through, hitting a new all-time high of $112,006.
Following the surge to new highs, price entered a retrace as investors rushed to book profits, leading to a decline to the previous resistance-turned-support level at $105,000.
The Bitcoin price now trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), a long-term bullish signal.
Meanwhile, the Relative Strength Index (RSI) at 60.72 is just retracing from the overbought region. While it indicates there’s room for BTC to run if the momentum picks up, it’s currently facing down, signaling that the buy momentum for Bitcoin is slowing down.
The Moving Average Convergence Divergence (MACD) is also bullish, as the blue MACD line is above the orange signal line, indicating upward momentum. But the histogram is showing signs of decreasing volume, which is not the energy we’d expect for a breakout.
BTC/USD Chart Analysis (Tradingview)
BTC Price Prediction
If we see some whale action and volume spike, we might see BTC surge past the $112,000 resistance and aim for the $123,600 target, representing an 18% increase from the current level.
Conversely, if the price of Bitcoin faces pressure from the bears, BTC could plunge to the 91,800 level, representing a 12% drop.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC.
Jacob Bury, a prominent YouTuber with over 56.7k subscribers, says BTCBULL has the potential to soar 10X after launch.
BTC Bull Token Presale Closes On $7 Million Milestone
BTC Bull Token provides a smart way to accumulate Bitcoin while also aiming for capital gains through a potential $BTCBULL price rally after its exchange listing.
$BTCBULL holders receive free BTC each time Bitcoin hits major price milestones. When Bitcoin reaches $150,000, the project will reward holders with BTC for the first time based on the amount of $BTCBULL they own.
Every additional $50,000 increase from that point triggers more BTC rewards. All investors must hold the $BTCBULL token to become eligible for the airdrops, which are weighted based on the amount of $ BTCBULL they hold.
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
Beyond the Bitcoin rewards, the project also incorporates token burns that kick in when the Bitcoin price reaches $125,000 and repeat for every $50,000 increase in the Bitcoin price thereafter.
BTCBULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 62% annual percentage yield (APY).
BTC Bull Token’s fundraising campaign is accelerating fast, with investors pumping $6.62 million into the ICO so far.
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00254 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in about 2 days to lock in the best deal.
Visit the BTC Bull Token website.
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