The Bitcoin price rose 3% in the last 24 hours to trade at $60,344 as of 00:36 a.m. EST on trading volume that surged 38% to $39 billion.
Bitcoin and the crypto market saw a brief rally on Tuesday amid market speculation that the Federal Open Market Committee (FOMC) may opt for a 50-basis-point rate cut during its meeting on Wednesday.
Bitcoin Price Aims For A Bullish Trend Continuation
The Bitcoin price recently invalidated the rounding top pattern as the bulls took charge of the price around the $57,681 support, pushing the price back above the $60,000 level, data from GeckoTerminal shows.
BTC price has formed a rounding bottom pattern, which the bulls aim to capitalize on to push the price toward a sustained bullish stance.
The price of Bitcoin now trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), an affirmation that the token is on a sustained bullish rally.
The Relative Strength Index (RSI) also coincides with the rally, as it soars towards the overbought region, currently at 59, an indication that buyers have the upper hand.
Moreover, the Moving Average Convergence Divergence (MACD) supports the positive trajectory as the lines cross over the neutral line. The blue MACD line at 414.28 is also above the signal line at 263.59, representing a bullish crossover.
BTCUSD Chart Analysis Source: GeckoTerminal.com
Bitcoin Price Prediction
According to the BTC/USD chart analysis on the 4-hour timeframe, the bulls are currently capitalizing on the rounding bottom pattern to push the price up towards a sustained bullish stance.
The main indicators, the MACD and RSI, also support the positive trend. If the momentum continues, the price of Bitcoin could keep soaring, as the bulls currently target the $64,000 resistance zone.
Conversely, if the bears take charge of the price at this level, the Bitcoin price could plunge, with $57,500 acting as the formidable support zone.
Meanwhile, investors are also rushing to buy the new Solana GameFi project Mega Dice (DICE), which has only 11 days left in its presale.
Mega Dice Raises Over $1.8 Million In Blockbuster Presale
Mega Dice is an online casino project that recently launched a new token, DICE. Its user-friendly interface houses over 4,000 games and caters to a broad audience of gamers and crypto investors.
The gaming platform has over 11,000 monthly users who place more than $50 million in bets every month. It is registered under a Curacao Master Gaming License, which ensures that players can bet in a secure and regulated environment.
Its already utility-packed native token, $DICE, has recently gained an added feature: staking. Therefore, in addition to unlocking lucrative rewards, cashback, and exclusive promotions, $DICE holders can now earn passive income based on the casino’s profits.
According to 99Bitcoins, a prominent crypto channel on YouTube, $DICE has the potential to surge 100X after its launch.
To join the presale, you can buy $DICE on the official website here for $0.116056 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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