Bitcoin Price Soars 5% as Traders Rush to Buy This ICO

bitcoin price rose 5% in the last 24 hours to trade at $103,945 as of 8:54 pm EST, with trading volume soaring 25% to $69.4 billion.

This comes amid optimism in the cryptocurrency industry ahead of the upcoming inauguration of US President-elect Donald Trump on Monday, January 20. The upward trajectory is largely attributed to the anticipation of cryptocurrency-friendly policies under the incoming administration.

bitcoin Price Indicators Suggest Possible Breakout

He<a target="_blank" href="https://www.coingecko.com/en/coins/bitcoin“> btc price The analysis in the 1-day period shows a strong bullish trend. After a prolonged period of sideways consolidation at the beginning of the year, the price of bitcoin surged decisively, as indicated by the large green arrow.

A critical price pattern visible here is the sideways pattern within the $92,572-$103,913 range, according to <a target="_blank" href="https://www.geckoterminal.com/eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″>Terminal Gecko data. This area previously acted as resistance during the consolidation phase, but became a solid support level after the breakout.

bitcoin's current price of $103,945.67 is testing resistance levels near $104,000, which aligns with previous price peaks. This suggests that there is a possible breakout on the horizon if the bullish momentum persists.

Furthermore, btc price is well supported by the 50-day simple moving averages (SMA), which are upward sloping and providing dynamic support. The 200-day SMA is trending below the price, indicating a healthy long-term uptrend.

The Relative Strength Index (RSI) is currently at 63.83, indicating bullish momentum, but it is not yet in overbought territory (above 70). This indicates room for further price appreciation without an immediate risk of correction. The gradual rise of the RSI reflects increasing buying pressure.

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the MACD line (blue) trending above the signal line (orange). The histogram is positive, reinforcing the bullish outlook. This momentum indicator suggests that the bullish price action is likely to continue in the near term.

btc primed for new ATH above $110,000

Given the bullish alignment of key indicators and current price trends, bitcoin price is likely to test and potentially break the $104,000 resistance in the near term.

If it successfully breaks this level, the next significant bullish target would be around $110,000, marking a zone of psychological and technical resistance and surpassing the previous all-time high (ATH) of $108,135.

However, if bitcoin price faces rejection at $104,000, a pullback towards the $97,000 to $98,000 range (near the 50-day SMA) is possible, where strong support lies.

As btc surges, investors are also buying meme coins Flockerz (FLOCK) As a FOMO frenzy builds up around the token with less than 4 days left in its pre-sale.

According to 99Bitcoins, a popular cryptocurrency YouTube channel with over 721,000 subscribers, FLOCK has the potential to grow 100x after its launch.

Flockerz Meme Coin pre-sale ends in less than 4 days – last chance to buy

Flockerz has seen its fundraising accelerate, now totaling $10.5 million. The project is the first meme coin to introduce the vote to win (V2E) mechanism, which allows community holders, specifically $FLOCK token holders, to vote on key decisions related to the project.

This way, FLOCK holders have a say in critical decisions such as protocol changes, budget allocations, adjustments to tokenomics, grant approvals, investment strategies, etc.

This takes decentralization a step further, paving the way for the evolution of meme coin projects in the coming years.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”5.0265486725664″>

POV: Your 2025 with The Flock! pic.twitter.com/AkIKSJ3o8p

—Flockerz (@FlockerzToken) <a target="_blank" href="https://twitter.com/FlockerzToken/status/1880273583685206114?ref_src=twsrc%5Etfw”>January 17, 2025

Investors who get in early can also unlock access to a whopping 266% Annual Percentage Yield (APY) when staking their newly purchased FLOCK.

Investors interested in joining the pre-sale can visit the official Flockerz website to purchase FLOCK tokens at the current price of $0.0066883 per token using BNB, eth, USDT, or a bank card.

Buy FLOCK here.

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