Bitcoin’s price experiences a slight dip to $93,894, while Coinvo predicts a surge to $134K after the FOMC meeting. BTC shows a bullish trend with rising support levels. Meanwhile, the BTC Bull Token presale exceeds $5.3 million, offering unique incentives like Bitcoin airdrops linked to price milestones and a high staking yield.
Bitcoin’s value dipped slightly, hovering around $93,894 as of early Tuesday morning, with trading volumes increasing by 4% to almost $20.1 billion. This decline comes as Bitcoin trader Coinvo shared a prediction on X, suggesting that if historical trends hold, there might be a dramatic increase pushing BTC to as high as $134,000 following the upcoming Fed FOMC meeting.
The Bitcoin price chart indicates a solid bullish trend within a noticeable rising channel which has been the case since late 2023. After reaching a high of over $106,000, the price corrected and found support near $80,000, creating what’s known as a rounded bottom pattern. This configuration often signals accumulation and suggests a potential for upward movement.
Recently, Bitcoin managed to break above the significant resistance-turned-support zone of around $92,000, showcasing renewed bullish momentum. The 50 Simple Moving Average (SMA) is currently positioned just below Bitcoin at $92,554, acting as a dynamic support level. Meanwhile, the 200 SMA sits lower at $65,811 reinforcing the long-term bullish outlook.
The Relative Strength Index (RSI) sits at 57.22, indicating it’s climbed from neutral territory but isn’t in overbought territory just yet, suggesting further potential for growth. With all these indicators, Bitcoin seems positioned to potentially retest its past highs, and a movement toward the $110,000 resistance zone does appear plausible.
Yet, caution is advised: if the price were to dip below $92,000, it could invalidate the short-term bullish trend and might lead to a lower price point of around $78,878 in line with the rounded bottom.
In other crypto news, investors are showing keen interest in the BTC Bull Token (BTCBULL), a new Bitcoin-themed meme coin project which is already raising eyebrows by crossing the $5.3 million mark in its presale. Unlike typical tokens, BTC Bull aims to reward holders with Bitcoin airdrops at different price milestones of Bitcoin.
This innovative model means that when Bitcoin approaches the ambitious target of $1 million, BTCBULL holders stand to gain from airdrops as BTC hits critical price levels like $150,000 and $200,000 for the first time, with an even larger airdrop for those holding strong when Bitcoin reaches $250,000.
Along with the incentives of BTC airdrops, the BTCBULL project also plans to undertake token burns, which should enhance both scarcity and potential value over time. Additionally, holders can earn passive income through staking for a whopping 77% annual percentage yield (APY).
For those interested in participating in this presale, tokens are currently available for $0.0025 each and can be purchased using BNB, ETH, USDT, or even through a bank card. But there’s urgency, with an anticipated price increase in just three days, now’s the time to secure the best deal.
