Can This New Cryptocurrency Pump like the Bitcoin Price? BTC20 Crypto Presale is Live, Offers Stake to Earn
Bitcoin (BTC) has posted an impressive summer season so far this year, following a stunning +25% pump in mid-June - which has has left price action high in consolidation above $30,000.
With the leading cryptocurrency now trading strong at $30,178 (a 24 hour change of -0.18%), many side-lined investors have begun to wonder whether it is too late to invest.
Indeed, with Bitcoin now in the 26th day of consolidation at current levels - questions are beginning to emerge about whether this price action can be sustained.
Worryingly, over the weekend, Bitcoin price sank back below the critical 20-day moving average.
This could spell disaster for price action on the short-time frame, last time Bitcoin fell short of this level it pushed an 11-day long -9% bleed-out.
If this occurred again, Bitcoin could likely see a return to $27,500 - a seismic drop that would see BTC lose hard-fought territory above $30k in a return to tough resistance at $27.5k.
And Bitcoin's indicators provide little reason to be optimistic, with the RSI still overheated at 60 despite 28-days of bearish signalling.
This suggests that consolidation hasn't been sufficient to cool-off the RSI, and suggests a need for retracement.
Worse still, there is additional downside confirmation from the MACD which showcases bearish divergence at -161.66.
However, despite the doom-and-gloom facing BTC price action - the Bitcoin community is excited at the prospect of an emerging new project that could see small investors finally join the ranks of 'wholecoiners'.
A far cry from the boom in over-hyped BRC-20 ordinals earlier this year, meet the next big thing in Bitcoin: BTC20.
Have you ever wondered what it would be like to own an entire Bitcoin? Sat on the side-lines watching BTC
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