Bitcoin Price Prediction as Bulls Defend $61,000 Level – Here are Key Levels to Watch Next

Forex
May 12, 2024
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Bitcoin Price Prediction

In the latest Bitcoin price prediction, the flagship cryptocurrency hovers around $61,154, reflecting a slight 0.60% increase within 24 hours. With a robust trading volume exceeding $13 billion and a market cap nearing $1.2 trillion, Bitcoin demonstrates resilience as bulls strive to maintain the $61,000 support level.

Bitcoin Price Prediction

At present, Bitcoin‘s price action revolves around a pivotal point set at $60,975, suggesting a bearish Bitcoin price prediction as long as BTC hold below this level.

If the price can sustain itself above this level, it might challenge immediate resistances placed at $63,400, $65,050, and potentially $67,160. If convincingly breached, these resistance levels are critical markers that could lead to further bullish momentum.

Conversely, Bitcoin’s support levels are $59,075, $56,640, and $54,400. A dip below these could signal a bearish downturn, intensifying selling pressures and potentially leading to more significant price drops.

The technical indicators offer a mixed view. The Relative Strength Index (RSI) currently stands at 45, which lies in neutral territory, hinting at an equilibrium between buying and selling pressures.

However, the 50-day Exponential Moving Average (EMA) at $61,875, which is slightly above today’s price, suggests a bearish undertone. This indicates that Bitcoin might struggle to maintain upward momentum unless it can consistently close above this moving average.

Bitcoin Price Prediction – Source: Tradingview

In summary, while there’s potential for an upside if Bitcoin can overcome key resistance levels, the price’s proximity to the 50 EMA and the neutral RSI pose challenges.

Traders should watch for whether Bitcoin can maintain support above the pivotal $60,975 or if it will succumb to bearish pressures, potentially revisiting lower support levels.

Mega Dice Presale Nears Completion with $913K Raised: Last Chance Before Price Increase

The Mega Dice presale is close to achieving its target, having successfully raised $913,229 with over 13.23 million $DICE tokens sold out of an available 14.7 million. This surge in investment underscores the growing interest in crypto-integrated iGaming platforms within the Web3 space, where Mega Dice is making significant strides.

Layer 2 solutions, while primarily enhancing Ethereum’s scalability, reflect the market’s fluctuations. However, as Ethereum maintains a dominant 63.42% market share with $54.3 billion in total value locked, its performance directly influences Layer 2 outcomes.

In the burgeoning sector of GambleFi, Mega Dice stands out by leveraging its native $DICE token to revolutionize the online gaming experience. Players use $DICE for gameplay, reaping benefits such as entry into exclusive competitions and access to a loyalty program that promises generous rewards and VIP experiences.

Additionally, Mega Dice has announced a buyback and burn strategy to maintain the token’s scarcity and bolster its market value. With the presale drawing to a close and the next price stage imminent, now is a pivotal moment for potential investors.

Stay updated with the latest from Mega Dice on platforms like X/Twitter and Telegram, and consider joining the presale before the price increases to $0.069 per $DICE token.