escalating Bitcoin value forecast: BTC experiences decline amidst intensifying China trade disputes, however, speculators converge on this ICO for gratis Bitcoin
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Bitcoin's value dipped by about 1% in the preceding 24 hours, trading at $104,199 as of 8:45 p.m. EST, with trading volume climbing 5% to $39.8 billion.
Trade tensions between the US and China flared up again after President Donald Trump accused China of violating the terms of their preliminary trade agreement, casting doubt on the fragile progress achieved just weeks prior.
Is Bitcoin at a Crucial Turning Point – 12% Dip or 18% Leap?
The latest Bitcoin price shows a stable position on the 3-day chart at $104,199, with a high of $108,291 and a low of $105,042 in the last 24 hours. Bitcoin's bullish trend, which began in late 2024, remains robust, with a solid support range spanning between $85,000 and $90,000.
Previously, Bitcoin kept smashing into a resistance zone marked by red arrows, causing sellers to persistently push the price down. However, on May 19th, the price finally breached this barrier, reaching a record-breaking high of $112,006.
Post this surge to new heights, the price started retracing due to investors offloading their holdings, contributing to a decline to the previous resistance-turned-support level at $105,000.
Bitcoin now floats well above both the 50-day and 200-day Simple Moving Averages (SMAs), suggesting a bullish long-term stance.
At the same time, the Relative Strength Index (RSI) stands at 60.72, just starting to retreat from the overbought region. Although it signals space for further Bitcoin growth if the momentum revives, it's currently sloping downward, signaling a slowdown in Bitcoin buying momentum.
The Moving Average Convergence Divergence (MACD) remains bullish, as the blue MACD line remains above the orange signal line, signifying upward momentum. Yet, the histogram shows signs of diminishing volume, which is unlike the intensity we'd expect for a breakout.
BTC/USD Chart Analysis (Tradingview)
Bitcoin Price Projection
If we see a ramp-up in whale activity and a spike in volume, we might witness Bitcoin piercing the $112,000 resistance and aiming for the $123,600 target, equating to an 18% increase from the present level.
On the other hand, if the price of Bitcoin faces pressure from the bears, Bitcoin could plummet to the $91,800 level, representing a 12% fall.
Meanwhile, investors are jumping on a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which rewards token holders with free Bitcoin.
According to YouTuber Jacob Bury, who boasts over 56.7k subscribers, BTCBULL has the potential to surge 10X after launch.
BTC Bull Token Presale Closes In On $7 Million Milestone
BTC Bull Token offers a smart, innovative approach to Bitcoin accumulation while also aiming for capital gains through a possible BTCBULL price rally following its exchange listing.
Holders of BTCBULL will receive free Bitcoin when the digital token hits significant price milestones. When Bitcoin reaches $150,000, the project will award holders with Bitcoin for the first time, based on the amount of BTCBULL they possess.
Each subsequent $50,000 increase in the Bitcoin price triggers additional BTC rewards. All investors must hold the BTCBULL token to be eligible for the airdrops, which are distributed based on the amount of BTCBULL they own.
There will also be a gigantic BTCBULL airdrop for the staunchest hodlers when BTC hits $250,000, weighted according to "Community Sale purchase amount."
Alongside the Bitcoin rewards, the project incorporates token burns that take effect when the Bitcoin price reaches $125,000 and repeat for every $50,000 increase in the Bitcoin price thereafter.
BTCBULL token holders additionally have the chance to generate passive income through the project's staking platform, which offers a whopping 62% annual percentage yield (APY).
BTC Bull Token's fundraising campaign is gaining momentum, with investors contributing $6.62 million to the ICO thus far.
Individuals interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL tokens for $0.00254 each using BNB, ETH, USDT, or a credit card. Grab your tokens before a potential price hike in about 2 days to secure the best price!
Visit the BTC Bull Token website.
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- Investors might want to pay close attention to the BTC Bull Token (BTCBULL), a new Bitcoin-themed meme coin that rewards token holders with free Bitcoin and offers a potential 10X surge after launch, as shared by YouTuber Jacob Bury.
- The stabilizing Bitcoin market may shift towards a crucial turning point, with possible 18% growth if significant whale activity and increased volume drive Bitcoin to pierce the $112,000 resistance, or a 12% decline if pressure from the bears causes Bitcoin to plunge to the $91,800 level. This development may align with broader financial and economic factors, such as changes in technology, politics, or general-news events.
