Bitcoin Moves Toward $100,000: Crypto All-Stars Closes With $7 Million

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bitcoin price is up 1.2% in the last 24 hours to trade at $96,842 as of 9:05 pm EST, with trading volume up 21% to $74 billion.

bitcoin Price Continues Uptrend Along Parabolic Curve

bitcoin price action on the daily chart shows strong bullish momentum, highlighted by a parabolic curve that began in late October. This curve reflects a rapid acceleration in prices, a hallmark of intense buying activity during bull runs.

Currently, bitcoin is <a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“>trading at $96,410with an intraday high of $97,351. The next significant resistance lies at the $100,000 psychological level, a critical area that could trigger profit-taking or a temporary reversal if buyers fail to maintain momentum.

BTCUSD Analysis Source: Tradingview

There is a golden cross on the chart, with the 50-day moving average ($78,924) crossing above the 200-day moving average ($66,876) in late October. This is a historically bullish signal, indicating the potential for further upside.

The steep upward slope of the 50-day moving average confirms strong short-term bullish momentum, while the 200-day moving average acts as strong long-term support. These moving averages also create active price support zones if bitcoin faces a pullback.

An important support zone between $50,000 and $55,000 is clearly defined. This level served as a consolidation base prior to the recent breakout and represents a critical safety net in the event of significant price corrections. Losing this zone would indicate a change in market sentiment and could lead to a more pronounced bearish phase.

The RSI (Relative Strength Index) is currently at 73.14, placing the price of bitcoin in overbought territory. This indicates strong bullish momentum, but also raises concerns about possible exhaustion in the near term. If the RSI begins to decline while bitcoin price continues to rise, this bearish divergence would suggest a weakening trend and possible reversal.

bitcoin Price Analysis: Can btc Reach $100,000?

In a bullish scenario, bitcoin could maintain its parabolic curve and surpass $100,000, which could lead to further upside. However, for this to happen, buyers must maintain momentum and increase trading volumes.

Failure to break above the $100,000 level could trigger a pullback, with the first support zone between $78,000 and $80,000, followed by the 200-day moving average.

In a bearish scenario, if bitcoin fails to hold above the $78,000 – $80,000 region, it could test the 200-day moving average or even fall back to the $50,000 – $55,000 support zone. Such a correction would change sentiment and could lead to broader consolidation.

Given the overbought conditions of the RSI, traders should proceed with caution. Those looking to enter new positions may consider waiting for a pullback to key support levels or confirmation of a break above $100,000 with high volume.

crypto All-Stars surpasses $7 million: last buying opportunity

As bitcoin price traders target the $100,000 mark, investors are also rushing to buy crypto All-Stars (STARS), a meme coin that has already raised over $7.1 million in pre-sales as it heading to launch in just 20 days.

Popular crypto YouTuber ClayBro, who has over 132,000 subscribers, recommends making the most of the meme coin supercycle with crypto All-Stars.

crypto All-Stars is one of the most prominent ICOs to emerge in the second half of this year and quickly caught the attention of the crypto community thanks to its innovative new staking platform, MemeVault.

This unique platform allows users to stake multiple meme coins in one place, making it the first smart contract of its kind.

Unlike traditional staking contracts that only support a single cryptocurrency, MemeVault supports a wide range of meme coins, including Dogecoin, Pepe, Floki, Shiba Inu, Coq Inu, Brett, Turbo, Milady, Toshi, Mog Coin, and Bonk.

I CAN'T STOP! YOU WON'T STOP!

crypto All-Stars is on fire! We just passed the big milestone of 7 million and the future looks big and bright for the All-Stars.

Participate in the pre-sale before it's too late here: https://t.co/sn2wtEYopZ pic.twitter.com/zuSdvOEVwW

– crypto All-Stars (@all_stars_coin) <a target="_blank" href="https://twitter.com/all_stars_coin/status/1862672189667123602?ref_src=twsrc%5Etfw”>November 30, 2024

This is just the beginning, as MemeVault plans to add more tokens in the coming months, positioning STARS as the central hub for meme coin staking.

Token holders can also stake STARS to earn a substantial 296% annual return.

Visit Estrellas here.

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