BTC Bull Token (BTCBULL) Presale Raises Over $3.5 Million in Advance of Its Launch

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The price of Bitcoin dropped more than 2% in the last 24 hours to trade at $82,150.79 at 10:17 p.m. EST on Thursday. As the largest cryptocurrency pulled back from recent highs, investors decreased their exposure to the digital asset.

With this recent move lower, BTC is now over 6% and 13% down on the weekly and monthly time frames, respectively.

Bitcoin Price Rebounds From Support

4-hour chart for BTC/USDT (Source: TradingView)

The Bitcoin price rebounded off of the $80,258.09 support in the last couple of hours. Should the crypto start to rise, it might attempt to flip the resistance level at $85,494.58 into support. A four-hour candle close above this barrier could then be followed by a climb to as high as $89,110.06 in the short term.

On the other hand, a sudden selloff or a rejection from the $85,494.58 resistance might result in a retest of the $80.258.09 support. A drop below this mark could then put the Bitcoin price at risk of plunging all the way down to $76,554.23.

BTC Price Technical Analysis: Mixed Signals On The 4-Hour Chart Suggest The Apex Coin Could Go Either Way

From a technical standpoint, indicators on the four-hour chart are sending mixed signals, suggesting the Bitcoin price could go either way in the coming hours. While the Moving Average Convergence Divergence (MACD) is showing bearish warning signs, the Relative Strength Index (RSI) is flashing bullish.

In the last few hours, the MACD line has dropped towards the MACD Signal line, a classic sign of diminishing bullish momentum. Now, the two lines are at almost identical levels.

Should the MACD line fall below the MACD Signal line, it could indicate that BTC has entered a negative trend. This could then be followed by a Bitcoin price drop.

Buyers seem to be growing stronger against sellers, however, with the RSI (green line) rising towards its Simple Moving Average (SMA) on the four-hour chart.

Increasing RSI values are often interpreted as an indication of growing buyer strength. If the RSI breaks above the SMA, it could tip the scales in buyers’ favor. They could then rebuild the lost momentum and push the Bitcoin price up.

BTC price analysis: Bulls stall at $85k, but is a deeper pullback likely?

While Bitcoin tries to recover, investors are shifting their focus to a new presale meme coin launched by experts. This project is set to launch on major exchanges in the coming weeks, and analysts are already making some bold predictions about its price potential.

As investors search for the best way to invest in the crypto markets, experts are advising on the best strategy to maximize gains. Among them is an analyst at 99Bitcoins, a prominent crypto YouTube channel that has over 725K subscribers.

According to the analyst, BTC Bull (BTCBULL) could soar 10X after its listing on major exchanges. The meme coin is currently available for purchase in an ongoing presale, which has already raised more than $3.4 million.

BTC Bull Token: A Meme Coin Offering Investors Free Bitcoin

BTC Bull Token is a Bitcoin-themed meme coin project that wants to support the largest crypto on its journey to $1 million per coin. As Bitcoin soars to new heights, the project will reward its token holders with BTC airdrops and BTCBULL token burns at certain price milestones.

According to the project’s website, the next BTC airdrops will happen when Bitcoin reaches $150K and $200K for the first time.

Meanwhile, BTCBULL tokens will be permanently removed from the supply when Bitcoin hits $125K, $175K and $225K for the first time. By decreasing the circulating supply of the meme coin, the team is making the crypto more scarce. This, combined with the demand from investors looking to receive free BTC, could lead to a skewed supply and demand ratio as well as a subsequent price surge.

BTC is currently trading at around $119K, which means that the first BTCBULL token burn will happen relatively soon.

Those who purchase BTCBULL tokens in the presale will also receive an 119% APY. This is paid out in BTC and BTCBULL tokens on a daily basis throughout the presale.

BTC price analysis: Bulls stall at $85k, but is a deeper pullback likely?

While the market has traded flat recently, some investors are taking advantage of this period to buy the dip. This could lead to a Bitcoin rally if the rest of the market catches on, putting the next price milestone