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bitcoin price has soared 4% in the last 24 hours bitcoin“>trading at $47,112 at 7:40 pm EST on trading volume which increased by 56% to $42 billion.
btc's market capitalization now stands at $924 billion, approaching the $1 trillion mark, as bitcoin price signals the conclusion of a correction period that had sunk the currency to $38,500 in late January.
The “Year of the Dragon” celebrations in East Asia increase positive sentiment around btc as analysts say history shows a pattern of gains during the Chinese New Year holidays.
𝐂𝐡𝐢𝐧𝐞𝐬𝐞 𝐍𝐞𝐰 𝐸
Historically, bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin pumps an average of 11% during Chinese New Year.
But there is one more thing that most people don't talk about.
The Chinese New Year will also be hugely beneficial for tokens that have a… pic.twitter.com/5HQ9Yx6enM– Elja (@Eljaboom) February 9, 2024
bitcoin Price Indicates Bullish Rally, Riding Cup and Handle Pattern
Fountain. Tradingview.com
bitcoin is showing signs of a bullish rally as the price forms the cup and handle pattern, indicating a continuation of the uptrend.
The bulls found support at $16,381, coinciding with the bottom of the cup. This has allowed the price to recover, causing the price to rise to the cup neckline.
Despite the bearish move to impose a correction, the bulls appear resilient, pushing the price back up from the $37,785 support level, forming the handle part of the pattern.
Technical indicators are also indicating bullish support as bitcoin price is trading above the 50-day and 200-day simple moving averages (SMA), which are currently acting as support for bitcoin price.
The Relative Strength Index (RSI) indicates a bounce from the oversold region of 30, surpassing the mid-level of 50 towards the overbought region at 72. If the bullish movement continues, it could push the RSI further towards the overbought zone , confirming the anticipated forecast. bullish manifestation.
bitcoin Price Bulls Near $78,000
The cup and handle pattern indicates a continuation of the uptrend, and bullish traders aim to take advantage of this to push the price higher. If the bullish momentum holds, the bulls could aim to break the previous all-time high (ATH) of $69,000 to reach $78,000.
While btc traders wait for the signal to enter more buy orders, investors are busy diversifying their portfolios with bitcoin Minetrix's BTCMTX token to earn lucrative returns, with analysts predicting the potential for 10x gains upon launch soon.
BTCMTX pre-sale secures $10.6 million and is approaching the goal of $11 million
bitcoin Minetrix (BTCMTX) has grown to $10.6 million in funds raised in its pre-sale and is quickly approaching its goal of $11.2 million.
Investors can purchase BTCMTX tokens at the current price of $0.0134 before the price increases in less than five days.
#BitcoinMinetrix achieves another notable milestone!
Exceeding $10,400,000. pic.twitter.com/6WaHtJCB4m
—Bitcoinminetrix (@bitcoinminetrix) February 9, 2024
Once you have purchased BTCMTX tokens, you will gain full control over your mining activities using the staking to mine feature. This functionality allows you to earn cloud mining credits by staking your BTCMTX tokens. It also allows you to participate in decentralized bitcoin mining, giving you protection against potential scams from third-party cloud mining platforms.
Exploring the advantages of #BitcoinMinetrix:
Comfortable and easy access.
Improved efficiency with an optimized cost structure.
Enjoy peace of mind, free from worries about resale value.Knowing the benefits is key! #bitcoin Mining #MiningEfficiency pic.twitter.com/tBCVjFELBO
—Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
By staking your BTCMTX tokens, the platform also offers you the opportunity to earn passive income in the staking pool and an annual salary return of 64%. Currently, more than 655 million tokens have already been staked.
Final Call: Buy BTCMTX Now, Participate in Minedrop Airdrop Competition
BTCMTX tokens allow you to participate in the Minedrop Airdrop Competition. The airdrop offers you the chance to compete for a $30,000 prize pool, where you could be one of ten lucky winners to receive a $3,000 reward.
Conor Kenny, a crypto analyst on YouTube with over 179,000 subscribers, says BTCMTX is among the best pre-sales projects in 2024 and has enormous potential for high returns for early entrants.
You can join the pre-sale to purchase the BTCMTX tokens on the BTCMTX website, connect your digital wallet and exchange your eth or USDT for BTCMTX tokens. You can also buy directly with your bank card.
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