Bitcoin Price Analysis as This Cryptocurrency ICO Surpasses $6 Million

The price of bitcoin fell 1.4% in the last 24 hours to trade at $96,059 at 02:12 am EST, with trading volume increasing 63% to $35 billion.

This comes as MicroStrategy co-founder Michael Saylor posted a bitcoin chart from the SaylorTracker website on December 29. Saylor, who is a btc permabull, often posts a btc chart on Sundays before making a btc purchase the next day.

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Puzzling blue lines on https://t.co/Bx3917zMqi. pic.twitter.com/xPl4GTKU3E

—Michael Saylor (@saylor) <a target="_blank" href="https://twitter.com/saylor/status/1873353661537284211?ref_src=twsrc%5Etfw”>December 29, 2024

bitcoin Price Points to Uptrend Reversal

He bitcoin price Analysis on the 4-hour time frame shows a clear transition in price behavior over the past few weeks. Initially, bitcoin price showed a strong bullish trend, with a clear upward trajectory highlighted by a series of higher highs and higher lows. This momentum was supported by the 50-day simple moving average (SMA) remaining consistently above the 200-day SMA, indicating a bullish crossover.

However, after reaching a local high near the $108,000 level, btc price began to reverse, forming a significant lower high, a classic sign of weakening bullish momentum, according to Terminal Gecko data. The subsequent break of the 50-day SMA has changed the narrative towards a more bearish or sideways consolidation phase.

Currently, the price appears to be within a range between $92,000 and $98,000, as highlighted by the purple rectangle. This sideways consolidation is usually indicative of indecision in the market, as both buyers and sellers fight for control. bitcoin price is now testing the lower boundary of the range, which could serve as critical support.

Meanwhile, the Relative Strength Index (RSI) stands at 40.08, slightly above oversold levels (30). This suggests that while the market is losing momentum, it has not yet entered oversold conditions, leaving room for further downward pressure.

Given the current market structure and indicator readings, the btc price is likely to remain within the range of $92,000 – $97,000 in the near term. If the price falls below the $92,000 support on high volume, it could pave the way for a fall to the $88,000 – $90,000 region, which serves as the next major support zone.

Conversely, a break above the $97,000 resistance, accompanied by an increase in volume, could see the price reclaim the 50-day SMA and retest the psychological level of $100,000.

Meanwhile, investors are flocking to the Pre-sale of the best wallet ($BEST)which has already exceeded 6 million dollars in financing.

According to crypto Gains, a popular YouTuber with over 141,000 subscribers, $BEST has the potential to generate 10x returns.

Best Wallet surpasses $6 million in pre-sale for cross-chain Web3 wallet

Best Wallet is an innovative cross-chain Web3 wallet that supports 60+ blockchains and features an integrated DEX, pre-sale aggregator, and crypto debit card.

Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it stand out in the competitive crypto wallet space.

Best Wallet is quickly gaining ground and now competes with popular wallets like Trust Wallet and MetaMask, with the potential to overtake them due to its unique features.

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Find the next GEM with upcoming tokens!

Explore the newest projects gaining traction and act early. Best Wallet's Upcoming Tokens feature gives you exclusive information about the next big thing.

Download now! https://t.co/RZCs6fkyKm pic.twitter.com/q5tD5Gyvj6

– Best Wallet (@BestWalletHQ) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1872975834845229321?ref_src=twsrc%5Etfw”>December 28, 2024

A key feature that sets Best Wallet apart is its “Upcoming Tokens” section, a pre-sale aggregator that identifies high-potential projects.

This feature has already yielded impressive results and has marked crypto All-Stars to investors recently before it soared 1,373%.

Investors can also stake BEST tokens to earn a whopping 353% annual return.

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What can be sustained? <a target="_blank" href="https://twitter.com/search?q=%24BEST&src=ctag&ref_src=twsrc%5Etfw”>$BEST unlock for you? <a target="_blank" href="https://twitter.com/search?q=%24BEST&src=ctag&ref_src=twsrc%5Etfw”>$BEST It's not just a token – it's the key to maximizing everything Best Wallet has to offer:

Get early access to new projects
Reduced transaction fees
Enjoy higher bet rewards
Exclusive token airdrops

Download now … pic.twitter.com/JpnCMgWQjc

– Best Wallet (@BestWalletHQ) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1871179220862353497?ref_src=twsrc%5Etfw”>December 23, 2024

Currently, BEST tokens are priced at $0.0234. Interested investors should buy before the price rises in just under 18 hours.

Buy the best here.

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