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The Bitcoin price dropped by a fraction of a percentage in the last 24 hours despite being up 9% in the last week to trade at $63,971 as of 00:42 a.m. EST on trading volume that dropped 8% to $19 billion.
This comes as a popular analyst on X (formerly Twitter), Rekt Capital, says that Bitcoin is currently aligning with historical post-halving price trends. The pseudonymous analyst offers a more optimistic perspective, noting that Bitcoin has the potential to return to its post-halving re-accumulation range.
Bitcoin is mere hours away from confirming a reclaim pf the Post-Halving ReAccumulation Range
The importance of this technical event cannot be understated
Essentially, Bitcoin is resynchronising with historical Post-Halving price tendencies$BTC #Crypto #Bitcoin https://t.co/wwQpVtoMgt pic.twitter.com/CZym9XCLpU
— Rekt Capital (@rektcapital) August 25, 2024
Bitcoin Price Aims For A Continued Rally
In the last week, the Bitcoin price has been on an uptrend, as BTC recovered from a sideways pattern’s lower boundary to breach the pattern’s upper boundary on the $61,347 resistance, data from GeckoTerminal shows.
The price of Bitcoin now seems to be consolidating within the $64,000 range, as the bulls aim for a rally above.
BTC trades well above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart as well, which affirms the bullish trend.
Moreover, the Relative Strength Index (RSI) trades slightly below the overbought region, currently at 62, as it seems to be consolidating at this level.
If BTC bulls pick up buying at this level, the price could continue surging, as the bulls target $70,500.
The 50 SMA seems to be rebounding and may soon cross the 200 SMA, forming a golden cross that may further encourage the price of Bitcoin to soar.
However, if the bears win the struggle at this level, the Bitcoin price could plunge below, with $61,716 and $60,970 now acting as the likely support levels (200 and 50 SMAs).
Meanwhile, GameFi lovers are buying the new token on the Solana blockchain, Mega Dice (DICE).
GameFi Sensation Mega Dice Zooms Past $1.75 Million In Blockbuster Presale
Mega Dice is a GameFi cryptocurrency initiative operating on the Solana network that has recently garnered attention by raising over $1.75 million, approaching the $2 million mark. This project aims to merge gaming and cryptocurrency, targeting gamblers on its platform and holders of its DICE token.
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— Mega Dice Casino (@megadice) August 11, 2024
The project stands out as a top brand in the crypto casino domain, boasting over 10,000 active players monthly and exceeding $50 million in monthly wagering. Players also enjoy over 4,000 casino games and 50 sports and eSports betting options.
Token holders also stand to share in the casino’s profits daily through its unique staking system.
99Bitcoins, a popular crypto channel on YouTube with over 706,000 subscribers, says that DICE could potentially soar 100X after its launch.
To join the presale, you can buy DICE on the official website here for $0.110529 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
Purchase DICE here.
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