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The price of bitcoin bitcoin/”>leap more than 4% in the last 24 hours to trade at $70,770.59 at 8:45 am EST as investors rush to buy btc ahead of the halving event.
Investors could also be rushing to get their hands on btc ahead of the approval of spot bitcoin ETFs (exchange-traded funds) in Hong Kong, which are It is expected to be approved later this month..
The international arm of China's Harvest Fund Management Co. is likely to be the first company to win regulatory approval, Bloomberg reported.
bitcoin Price Rejected by Resistance
4-hour chart for btc/USDT (Source: x/pNZFZqPR/”>TradingView)
He bitcoin The price was rejected by the resistance level of $71,047.20 in the last 12 hours, causing the market leader to print a lower high and the formation of a descending trend line. Sellers are still putting pressure on the leading cryptocurrency, which is evident by the wicks present over the last 4-hour candles.
If the bears continue to put pressure on bitcoin price, it could be at risk of falling to the immediate support level of $68,857.98 in the next 24 hours. Continued selling volume should btc reach this support level could lead to the cryptocurrency falling as low as $67,482.14 in the near term.
A 4-hour candle close above $71,047.20 could invalidate the bearish thesis. In this alternative scenario, traders can take long positions for btcwhich could take it to the next barrier of $72,771.91.
Bulls and bears fight to take control of bitcoin price
The technical indicators on the btc 4-hour chart are currently sending mixed signals. Both the Relative Strength Index (RSI) and the Moving Average Convergence and Divergence Indicator (MACD) are about to trigger conflicting technical signals.
On the one hand, btc is trying to end its negative trend and enter a new bullish cycle. This is evident by the MACD line attempting to cross above the MACD signal line. Meanwhile, the RSI is collapsing towards its simple moving average (SMA) line on the 4-hour chart. Although the RSI positioning above the SMA indicates that buyers have the advantage over sellers, the narrowing gap between the two lines suggests that the bears could soon regain the advantage.
For the bulls, the situation is not over yet. With about a week left until the halving, traders could start accumulating the market leader before it becomes increasingly difficult to obtain. This could introduce a wave of buying pressure that will drive up the price of bitcoin in the coming days.
After the halving, investors are likely to turn to tokens that are derivatives of bitcoin while also taking advantage of any opportunity to receive free cryptocurrency.
99BitcoinsThrough its Learn to Earn initiative, it could be one of the top projects the crypto community will turn to.
A win-win situation for the crypto community
99Bitcoins has established itself as one of the most popular websites and blogs related to the market leader. More than 700,000 people have subscribed to its YouTube channel, while more than 2 million people have signed up for courses on the website.
Since launching in 2013, 99Bitcoins has been able to break down the complex technical aspects of bitcoin into simple terms.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”8.3562753036437″>
What is spatial computing? Discover how twitter.com/hashtag/Blockchain?src=hash&ref_src=twsrc%5Etfw”>#blockchain is transforming AR/VR, making immersive digital worlds more interactive and safe.
Dive deeper: https://t.co/2hlZYRFHBvtwitter.com/hashtag/99BTC?src=hash&ref_src=twsrc%5Etfw”>#99BTC twitter.com/hashtag/SpatialComputing?src=hash&ref_src=twsrc%5Etfw”>#SpatialComputing twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw”>#web3
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1777275219423490318?ref_src=twsrc%5Etfw”>April 8, 2024
In 2014, the website expanded its offering by adding tutorials for cryptocurrencies other than bitcoin. Now, the website team is looking to pioneer the nascent learn-to-earn space, with the launch of the 99BTC token.
Along with the token, there will be a comprehensive curriculum of courses that cater to all types of learning styles. crypto newbies and veterans alike will have the opportunity to hone their cryptocurrency knowledge while earning 99 btc tokens in the process.
Holders will gain access to exclusive content and platform rewards
Anyone who purchases 99BTC will gain access to the project's staking rewards, as well as unlock additional trading courses, exclusive trading webinars, and access to Vip community groups that provide trading signals and strategies.
Holders will also be able to redeem their 99BTC tokens for discounts on partner products and exclusive access to premium content.
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With the twitter.com/hashtag/BitcoinHalving?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Halving event just 9 days away, speculation is increasing: Is it twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btcWill the price skyrocket after the halving?
Dive deeper into our analysis of the potential price impact of this major supply shock.
Read more: https://t.co/zTA3n26nDltwitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/Halving?src=hash&ref_src=twsrc%5Etfw”>#Reduce by half twitter.com/hashtag/BullMarket?src=hash&ref_src=twsrc%5Etfw”>#Bull market
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1778338447922544707?ref_src=twsrc%5Etfw”>April 11, 2024
Investors are flocking to the project's pre-sale, investing more than $131,000 during its first day. Since the price of the token will increase in the later phases of the pre-sale, anyone who wants to get into the cryptocurrency at this early stage should hurry.
99BTC, which sells for just $0.001, can be purchased using eth, USDT, BNB, or bank card.
Investors can unlock access to premium content and additional courses by purchasing 99BTC here.
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