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bitcoin price fell almost 1% in the last 24 hours eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>listed at $66,858 at 03:31 am EST on trading volume that fell 20% to $29 billion.
This comes as legendary billionaire hedge fund investor Paul Tudor Jones told CNBC's Squawkbox that he is protecting himself against inflation by investing in assets like bitcoin, gold and tech stocks, while carefully avoiding fixed interest assets.
bitcoin price points to bullish rally
According to the btc/USD chart analysis on the 1-day chart, the upward-sloping yellow lines outline an ascending price channel, indicating a sustained uptrend. bitcoin price has been consistently recording higher lows and higher highs within this channel since mid-September, which is a classic bullish sign.
According to data from eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed”>Terminal GeckoThe $52,500 support allowed the bulls to stage a continued bullish rally.
As a result, bitcoin price is now trading above the 50-day and 200-day simple moving averages (SMA), confirming the likely bullish stance. The 50-day SMA is also approaching the 200-day SMA, which could indicate a probable golden crossover in the coming days.
The Relative Strength Index (RSI) is at 58.03, which is in the neutral to bullish range (above 50 but below 70). This suggests that there is still room for the price to rise before falling into overbought, but caution should be exercised if it approaches 70.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/10/Bitcoin-Price-Analysis-As-Paul-Tudor-Jones-Says-He39s-Long.png" alt="bitcoin Price Chart Analysis Source: GeckoTerminal.com” width=”1167″ height=”555″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/10/Bitcoin-Price-Analysis-As-Paul-Tudor-Jones-Says-He39s-Long.png 1167w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-23_10-31-32-300×143.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-23_10-31-32-1024×487.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-23_10-31-32-768×365.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-23_10-31-32-130×63.png 130w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-23_10-31-32-104×50.png 104w, https://insidebitcoins.com/wp-content/uploads/2024/10/Uniswap-V3-_GeckoTerminal.com_WBTC_2024-10-23_10-31-32-83×40.png 83w” sizes=”(max-width: 1167px) 100vw, 1167px”/>
bitcoin price prediction
The current btc/USD setup is bullish. bitcoin price is within an ascending channel and above both key SMAs, and the RSI indicates further upside potential. A break above the upper boundary of the channel could push the price towards higher targets as the bulls target $76,000.
However, if the bears gain control at this level, bitcoin price could fall further below the channel, with $62,204 (50-day SMA) acting as a formidable support zone.
Meanwhile, investors looking to diversify their portfolios could investigate the new meme coin. Flockerz (FLOCK)which has already accumulated more than $979,000 in pre-sales.
According to 99Bitcoins, a popular cryptocurrency YouTube channel with over 706,000 subscribers, $FLOCK has the potential to rise 100x after its launch.
Flockerz Pre-Sale Closes at $1 Million: Best Cryptocurrency to Buy Now?
Flockerz is a new meme coin that gives decision-making power to its community, The Flock, through your vote.o-earn system ͏(V2E)͏.
The token holder can vote on decisions and receive $FLOCK tokens as a reward for their participation. At the core of Flockerz is FlockTopia, where every holder has a say and earns rewards.
The more votes you vote, the more tokens you earn, you will create a direct staking initiative for participation. This ensures that active community members are rewarded for their participation.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”5.3925925925926″>
The flock flies high! We have officially surpassed $300k! pic.twitter.com/MsLc5PeoyX
—Flockerz (@FlockerzToken) twitter.com/FlockerzToken/status/1840049282889724227?ref_src=twsrc%5Etfw”>September 28, 2024
In addition to V2E rewards, users can earn passively through the platform. betting mechanismwhich offers a very high annual return of 1,725%.
To join the pre-sale, You can buy $FLOCK on the official website here. for $0.0058394 per token using BNB, eth or USDT. You can also make a purchase with your bank card.
Buy before the price rises in about two days to secure the best deal.
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