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The Bitcoin price managed to print a slight gain in the last 24 hours to trade at $67,191.10 as of 7:34 a.m. EST.
Despite the lackluster 24-hour performance from the BTC price, Bitwise’s head of alpha strategies, Jeff Park, predicts that the crypto’s price will rally to as high as $92K if former US President Donald Trump retakes the White House.
Charting $BTC price against Trump’s odds (via @Polymarket) from 8/15 to 10/20 reveals some wild swings—particularly when Harris and Trump took turns leading. By applying merger arb-style probability math, I project a Trump victory could push BTC to ~$92,000
Take that as you will pic.twitter.com/OGy8M3Vju1
— Jeff Park (@dgt10011) October 22, 2024
The Bitcoin Price Rebounded Off Of Support
4-hour chart for BTC/USDT (Source: TradingView)
The Bitcoin price rebounded from the $65,937.66 support after briefly dropping below this technical safety net in the last 24 hours. After recovering back above this crucial mark, the leading crypto’s price has been in a positive sequence and is now attempting to flip the $67,937.34 resistance level into support.
Should BTC close a 4-hour candle above $67,937.34 within the next 12 hours, the crypto could have the technical foundation needed to continue climbing in the following 24 hours. Traders might subsequently push the Bitcoin price to as high as $69,693.15.
On the other hand, the Bitcoin price failing to close a 4-hour candle above $67,937.34 in the coming 12 hours could bring an end to the crypto king’s positive short-term sequence. In this alternative case, traders might start to enter into short positions for the crypto. BTC could then end up losing the $65,937.66 support and plunge to $63,401.48.
Bulls Are Slowly Starting To Take Control Of The Bitcoin Price
Technical indicators on BTC’s 4-hour chart suggest the Bitcoin price might rise through the course of the next trading day. Most notably, the Moving Average Convergence Divergence (MACD) indicator is on the verge of triggering a major bullish technical flag.
In the last couple of hours, the MACD line has risen towards the MACD Signal line. Now, the prior is attempting to break above the latter. Should this intersection happen, it could indicate that the Bitcoin price has entered a positive trend and will keep climbing.
Meanwhile, buyers recently gained the upper hand on BTC’s 4-hour chart, as suggested by the Relative Strength Index (RSI) line’s positioning above its Simple Moving Average (SMA) line.
However, the current RSI reading below 50 still warns of a bearish grip on the leading crypto’s price. Nevertheless, the positive slope of the RSI suggests that bulls are currently accumulating strength against their bearish counterparts.
With the US presidential election now just 12 days away, investors might want to take a look at the new political meme coin FreeDum Fighters (DUM).
It’s a new project that Youtuber Jacob Crypto Bury, with 43.1K subscribers, calls “an absolute beast” of a meme coin with the potential to generate 10X returns for investors.
A Humorous Take On The Upcoming US Election
FreeDum Fighters (DUM) takes a lighthearted look at the upcoming US presidential election with a humorous take on political events. With the political rivalry between Trump and Democrat Kamala Harris heating up, the project introduces its own clash between the fictitious Magatron and Kamacop characters.
Investors not only get to have a laugh as political developments hit the market, but can also win some seriously impressive staking rewards.
Unlike the conventional presale that offers a single staking yield for locking up the project’s token, the team behind FreeDum Fighters (DUM) has opted to take a different approach and offer rewards tied to both Magatron and Kamacop.
This is done to encourage a sort of gamified election whereby presale investors, who also become voters, are rewarded for backing one of the project’s characters.
In one corner is Magatron, also known as “The MAGA Machine,” who offers presale buyers who stake their tokens up to 405.78% in annual rewards. In the other corner is Kamacop, offering its backers a dazzling 1,766.16% staking return.
Betting On DUM’s Future
Although the meme coin is still in the early stages of its presale, it has already raised over $262K.
Who’s ready for debates? pic.twitter.com/HWYUTwcyyF
— FreeDum Fighters (@Freedum_Fighter) October 24, 2024
Selling for $0.00005, DUM can be bought with either ETH, BNB, BASE, SOL, USDT or USDC. Once purchased, the tokens can then be locked up through the stake/vote page for outsized staking rewards.
A price hike is coming in less than 30 minutes so buy quickly if you are interested.
Visit DUM here.
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