Forecast on Bitcoin Value: According to Coinvo, a potential FOMC meeting could push Bitcoin to $134,000, while an ICO offering free Bitcoin surpasses $5.3 million in value.
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The Bitcoin price experienced a minor dip in the previous 24 hours, trading at $93,894 as of 4:01 a.m. EST. Trading volume spiked by 4%, reaching a whopping $20.1 billion.
This slight pullback in Bitcoin's price comes as investor and trader Coinvo hinted on Twitter that the upcoming Federal Reserve FOMC meeting might send the price to a staggering $134K if history repeats itself.
With the FOMC meeting scheduled for Wednesday, the Bitcoin market (BTC) is teeming with excitement.
Bitcoin price poised for a bull run?
The BTC price chart on a 3-day scale reveals a robust bullish trend within an ascending channel, a pattern it has maintained since late 2023.
After touching a high above $106,000, the Bitcoin price action pulled back and sought support near $80,000, forming a rounded bottom pattern that shows accumulation and a potential continuation to the upside.
Recently, the Bitcoin price has broken above the crucial resistance-turned-support range around $92,000, hinting at renewed bullish momentum.
Meanwhile, the 50 Simple Moving Average (SMA) is gradually moving upward and is currently located just beneath BTC at $92,554, offering dynamic support. The 200 SMA is well below the current Bitcoin price at $65,811, reinforcing the long-term bullish structure.
To put the cherry on top, the Relative Strength Index (RSI) is presently at 57.22, inching up from the neutral zone without indicating overbought conditions, bolstering the possibility of further upward movement.
Taking the breakout from the accumulation range, the bullish channel, and supportive technical indicators into account, BTC appears to be gearing up for another attempt at challenging previous highs.
A move toward the $110,000 resistance zone seems likely if the bullish momentum holds, provided that macroeconomic conditions and the broader crypto sentiment remain favorable.
However, a drop below the $92,000 level may warrant caution, as it might invalidate the immediate bullish setup, possibly pushing the price of Bitcoin to the $78,878 level within the rounded bottom pattern.
Meanwhile, crypto enthusiasts are flocking to BTC Bull Token (BTCBULL), a thrilling Bitcoin-themed meme coin project that disperses free BTC.
According to the renowned YouTube channel 99Bitcoins, which boasts over 725K subscribers, BTCBULL holders could witness a 10X increase in value after the token's launch.
BTC Bull Token charging toward $6 million! 🔥
In one of the most impressive presale showings this year, the new meme coin BTC Bull Token has burst past $5.36 million in its ongoing presale.
BTC Bull Token distinguishes itself by awarding holders with Bitcoin airdrops whenever BTC achieves a new price milestone.
As Bitcoin marches towards the $1 million target, BTC BULL Token holders are set to reap benefits along the way.
Investors who purchase BTCBULL in Best Wallet will receive free BTC via airdrops when the Bitcoin price hits $150k and $200k for the first time.
There will also be a massive BTCBULL airdrop for the hardcore hodlers when BTC hits $250,000, with the distribution weighted based on "Community Sale purchase amount."
🚨💥🍁 $BTCBULL is LIVE in Upcoming Tokens! @BTCBULL_TOKEN is a Bitcoin incentives-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
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In addition to BTC airdrops, the team will burn tokens as well, permanently removing a portion of the total supply to generate scarcity and value.
BTCBULL token holders can also generate passive income by staking their tokens for a 77% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to purchase BTCBULL for $0.0025 each using BNB, ETH, USDT, or a bank card.
Don't miss the chance to acquire BTCBULL before a price surge in approximately 3 days to secure the best possible deal.
Experience the BTC Bull Token revolutionJoin Our Telegram channel to stay updated on breaking news coverage
- Investor and trader Coinvo, hinting on Twitter, suggests that the upcoming Federal Reserve FOMC meeting might repeat history and potentially send the Bitcoin price to a staggering $134K.
- Amidst the excitement surrounding the FOMC meeting, the Bitcoin market (BTC) remains bullish, as indicated by the robust trend within an ascending channel, a rounded bottom pattern, and supportive technical indicators.
- Meanwhile, crypto enthusiasts are flocking to BTC Bull Token (BTCBULL), a Bitcoin-themed meme coin project, in anticipation of potential BTC airdrops and a 77% annual percentage yield (APY) for token staking.
