Bitcoin Price Soars Almost 4% As MicroStrategy Eyes $1 Trillion Market Cap And This New ICO Offers 2,763% Staking APY
The Bitcoin Price soared almost 4% in the last 24 hours to trade at $62,759 as of 11:12 p.m. EST on trading volume that rose 1% to $30 billion.
This comes as MicroStrategy co-founder Michael Saylor says that the company aims to become a “Bitcoin bank” with a $1 trillion valuation.
Bitcoin Price Aims For A Sustained Bullish Rally
According to data from GeckoTerminal , the Bitcoin price has been consolidating since the beginning of September, trading within the $57,000 and $66,000 resistance.
BTC has recently bounced from the Fair Value Gap (FVG) around $59,000, which supports the bullish rally, crossing the $62,500 resistance.
The price of Bitcoin now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), further supporting the bullish sentiments.
Moreover, the Relative Strength Index (RSI) is soaring above the 50-midline level, currently at 57 and moving up, which shows that the bulls have the upper hand.
The Moving Average Convergence Divergence (MACD) also supports the bullish move as it crosses the neutral line. The blue MACD line also crosses above the orange signal line, indicating that BTC is currently on positive momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mutant Ape NFT ripoff creator to forfeit $1.4M, avoids prison
ZK-proofs are more affordable than legacy ID systems — Cysic founder
Expert Reveals Obstacle Keeping XRP Price from Big Rally as This Ripple Rival Aims for 12000x Run