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He bitcoin“>bitcoin The price fell more than 1% in the last 24 hours to trade at $41,965.66 at 8:50 am EST.
10x Research Says btc Above $43,000 Is a Long Entry
10x Research founder Markus Thielen, who correctly predicted bitcoin recent drop to $38,000, says levels above $43,000 are appropriate to place new bullish bets on the market leader.
“As reversal indicators suggest a trading bottom is being reached, we should focus on long positions,” he said in a note to clients on Jan. 29. “From a risk management perspective, we should go long again once bitcoin breaks $43,000.”
But crypto whales are not waiting for btc to surpass $43,000. Data from on-chain analytics firm IntoTheBlock shows that the amount of bitcoin stored in wallets holding more than 1,000 btc has increased by approximately 76,000 btc in January, or $3 billion, raising the total btc held by these wallets. wallets to 7.8 million btc. .
bitcoin price tries to break resistance
Daily chart for btc/USDT (source: TradingView)
He bitcoin The price is trying to break above the $42,450 resistance level. It managed to break through the barrier during yesterday's trading session, but was unable to close yesterday's daily candle above the key price point.
Despite this, the price of the market leader has regained a position above the positive medium-term trend line. This could give bitcoin price the necessary foundation to attempt one more challenge at the $42,450 threshold. A daily candle close above this mark may lead btc to rise as high as $44,430 in the near term.
On the other hand, if btc fails to close a daily candle above $42,450 in the next 48 hours, it may expose it to the risk of falling to the support level closest to $40,000. Continued selling pressure at this point could lead to the bitcoin price falling as low as $38,000 in the coming days.
Bulls Could Soon Boost bitcoin Price
Technical indicators in btc The daily chart suggests that the price of bitcoin may rise in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) indicator and the Relative Strength Index (RSI) are bullish.
The RSI line is positioned above its simple moving average (SMA) line, indicating that buyers are currently stronger than sellers on the btc daily chart. In addition to this, the MACD line is about to cross above the MACD signal line.
These two intersecting lines will trigger a major bullish technical flag that could be indicative of bitcoin price entering a short-term uptrend.
As bitcoin attempts to break resistance, bitcoin Minetrix is breaking barriers in its pre-sale as it approaches the $10 million mark.
Investors Rush into This Pre-Sale for Potential 10x Profits
2024 brings challenges and opportunities for bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Miners: Halving cuts revenue but boosts global hash redistribution.
North America may lose dominance as new markets emerge. Transaction fees and mergers offer hope.#BitcoinMinetrix has also achieved… pic.twitter.com/urLNMF5xZ7
—Bitcoinminetrix (@bitcoinminetrix) January 29, 2024
bitcoin Minetrix is an innovative bitcoin cloud mining platform that is on its way to completely revolutionizing the cloud mining industry. Through decentralization, the project dramatically reduces the barrier to entry and initial costs for anyone who wants to get started.
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Increased bitcoin Scarcity Could Boost BTCMTX Value
With spot bitcoin ETFs (exchange-traded funds) recently launched in the US, a wave of institutional capital could soon enter the market. In addition to this, the upcoming halving event in April will reduce btc mining rewards by half, subsequently making it difficult to obtain new btc.
Taking these factors into account, bitcoin Minetrix is the best way to accumulate bitcoin for anyone who does not want to actively participate in speculative trading. This has the potential to cause the value of BTCMTX to skyrocket in the near future.
Investors are clearly aware of this, as evidenced by the more than $9.7 million that bitcoin Minetrix has raised through its pre-sale. There are less than two days left for a price hike, so if you're interested, act now.
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