Bitcoin Price Invalidates Rounding Top – Bullish Rally Ahead?

The Bitcoin price has been in a tear in July, as it used the $56,000 support level to surge through a markup phase to the $68,000 resistance zone

The Bitcoin price rose 1% in the last 24 hours to trade at $67,989 as of 09:54 p.m. EST on Monday. The trading volume dropped 22% to $29 billion.

If Michael Saylor’s latest prediction comes true, there will be better times ahead. The BTC permabull said at Bitcoin 2024 in Nashville on July 26 that the BTC price will hit $13 million by 2045.

There was more good news for the king of cryptos when the state of Michigan invested $6.6 million of its pension fund in ARK 21Shares’ ARKB spot Bitcoin ETF (exchange-traded fund).

Bitcoin Price Invalidates Rounding Top – Bullish Rally Ahead?

The Bitcoin price showed a strong bullish trend in July, using the $56,000 support level to surge through a markup phase to the $68,000 resistance zone, according to data from GeckoTerminal.

BTC price then went through a correction, retracing to the $64,000 level, forming a rounding top pattern. However, the price of Bitcoin invalidated the rounding top bearish prospects as it used the $64,000 support to propel above to hit the resistance again.

The price of Bitcoin is bullish, as the token trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as the immediate support levels.

Moreover, the Relative Strength Index (RSI) climbs up from the oversold level, to trade at 63, indicating that the asset is under intense buying pressure.

The Moving Average Convergence Divergence (MACD) also supports the bullish prospects of the token, as it climbs up above the neutral line. The blue MACD line also crosses above the orange signal line, forming a bullish crossover, which encourages optimistic investors to buy more.

According to the Bitcoin price analysis on the 4-hour chart, BTC is on a strong bullish momentum to the upside, as the bulls capitalize on the RSI and MACD to buy more. If the buying sustains, the price of BTC could climb to the set target at $72,000.

However, if the bears complete a double top pattern at the resistance level, BTC could retrace back to the $64,000 support, forming a neckline at this level.

Meanwhile, as BTC bulls look for buying opportunities, other investors are socking funds into 99Bitcoins (99BTC), a token that’s offering a last chance to buy after raising more than $2.5 million.

99Bitcoins Presale Blasts Past $2.5 Million – Best Crypto To Buy Now?

99Bitcoin is an educational platform with over 2 million registered users for its courses and more than 706,000 subscribers on its YouTube channel.

With its latest $99BTC token ICO, the project is set to introduce a groundbreaking learn-to-earn (L2E) model. It will gamify crypto education by allowing token holders to tackle challenges and complete lessons to earn higher rankings and $99BTC tokens as rewards.

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— 99Bitcoins (@99BitcoinsHQ) April 8, 2024

Holders can stake 99BTC tokens for an eye popping 681% annual percentage yield (APY).

Influential crypto YouTuber Jacob Bury says that the 99Bitcoins token could turn a $1K investment into $10K after its launch.

You can buy 99BTC tokens for $0.00115 each. With a price hike coming in less than three days, buy soon to lock in the best deal.

To join the presale, buy $99BTC from the official website here using ETH, USDT, or a bank card.

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