Bitcoin Value Surges Past $100,000 Mark for Initial Time Since February; Meanwhile, Investors Embrace This ICO, Offering Complimentary Bitcoin
Let's Chat About Crypto, Specifically Bitcoin!
Exciting news for all crypto enthusiasts as the BTC price has spiked by 3% in the last 24 hours! It's now trading at $102,679.68 as of 10:23 p.m. EST. And the good news doesn't stop there - with this surge, BTC is now comfortably positioned in the green with a weekly performance of more than 5%.
Ready to break free from the chains and soar high? The recent price jump has allowed Bitcoin to breach the $100K barrier for the first time since Jan. 20. Keep your eyes peeled for what's next!
Is This Bull Run About to End? Or Are We in for More Fireworks?
With Bitcoin rallying and painting a beautiful chart, the question on everyone's mind is, "How high can this bad boy go?" Over the past two weeks, BTC has been forming a bullish channel, achieving multiple higher highs and higher lows.
This upward trend has helped Bitcoin push past the resistance level of $98,371.71. At the moment, BTC appears destined for the $107,963.22 barrier. But what happens if the tide turns? A drop from the channel in the next 48 hours could signal the end of the current rally. If that does occur, BTC might retest the $98,371.71 level as a support zone. From there, things could get a little hairy - with a bearish scenario pushing the crypto down to $88,023.04, and a super bearish outlook taking it as low as $77,926.75.
But let's keep our fingers crossed and hope for the best, shall we?
Technicals Might Just Be on Our Side
Looking at the daily chart, the MACD and RSI indicators paint a bullish picture. Both are showing positive signs - the MACD line has rebounded off the Signal line recently, with it currently above the latter, indicating a bullish orientation. The gap between the two lines has also widened, suggesting renewed bullish momentum.
Meanwhile, the RSI has triggered a significant bullish flag after it broke above its Simple Moving Average on the daily chart in the last few days. This is typically seen as a sign that buyers are taking the reins.
But beware the overbought territory! The current RSI reading is well above 70, signaling that the Bitcoin price is overbought. This usually indicates greater downside potential than upside potential. However, don't be too hasty to sell - in some instances, a crypto can maintain a high RSI reading for extended periods, especially when it's rallying.
Overall, the bullish channel and the growing gap between the MACD and Signal lines suggest a bullish scenario might be more likely. Fingers crossed that the Bitcoin price attempts to flip the $107,963.22 barrier into support in the next 48 hours if this positive trend continues!
Get Your Hands on the Hottest Crypto Play - BTC Bull Token!
With Bitcoin surging back above the $100K mark, investors are rushing to grab the presale for BTC Bull Token (BTCBULL). This crypto promises free Bitcoin to its investors through airdrops and could be considered one of the best Bitcoin plays currently on the market for retail investors.
Built on the belief that BTC will soar to $1 million per coin and beyond, BTCBULL has scheduled airdrops for when Bitcoin hits specific milestones, starting at $150K for the first time. Token burns will also take place, increasing the token's scarcity and subsequently boosting its value as demand grows.
Want to make a move before the next presale price increase in around 6 hours? Simply visit the BTCBULL website and grab your share through the embedded widget using either crypto or a bank card.
Expand Your Crypto Portfolio with the Best Wallet
Looking to diversify your crypto portfolio? Check out the Best Wallet - an easy-to-use, feature-packed, and secure crypto wallet. With support for multiple chains, multiple wallets, and non-custodial features, this wallet is a great choice for modern investors. Its built-in ICO access, staking features, and native token ($BEST) make it an essential tool for your crypto journey.
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- The bullish trend in Bitcoin (BTC) has continued, with BTC forming a bullish channel and achieving multiple higher highs and higher lows, potentially hinting at more growth.
- Despite the overbought territory, technical indicators such as the MACD and RSI are showing positive signs, suggesting renewed bullish momentum and a potential attempt to flip the $107,963.22 barrier into support.
- With Bitcoin surging back above the $100K mark, investors are rushing to participate in the BTC Bull Token (BTCBULL) presale, a crypto that promises free Bitcoin through airdrops for retail investors.
- To expand your crypto portfolio and take advantage of the growing technology in finance and investing, consider using the Best Wallet - a secure, easy-to-use, and feature-packed wallet supporting multiple chains, wallets, and non-custodial features.
