Bitcoin Price Analysis As BTC Closes on $100K, MSTR Plunges 15%, And Crypto All-Stars Blasts Past $5 Million

The
Bitcoin
price
edged
up
1%
in
the
last
24
hours
to
trade
at
$99,215
as
of
02:42
a.m.
EST
on
trading
volume
that
surged
12%
to
$113.7
billion.

This
comes
after
Bitcoin
hit
a
new
all-time
high
of
$99,486,
with
technical
indicators
showing
a
possible
continuation
of
the
rally
to
cross
the
$100,000
mark.

Despite
the
rally,
MicroStrategy
Inc
shares
(MSTR)
tumbled
15%
to
$397
after
Citron
Research
said
that
it’s
betting
against
the
software
company
because
it
is
overvalued.

Bitcoin
Price
To
Sustain
Its
Current
Upward
Trend

The
Bitcoin
price
has
been
on
a
sustained
uptrend,
with
higher
lows
and
higher
highs
resembling
the
climbing
of
a
mountain.
According
to
data
from


GeckoTerminal,
the
support
levels
around
$60,000
and
$70,000
have
allowed
the
price
of
Bitcoin
to
trend
within
the
rising
channel
pattern.

BTC
now
trades
well
above
the
50-day
and
200-day
Simple
Moving
Averages
(SMAs),
supporting
the
bullish
outlook
of
the
price.
The
50-day
SMA
crossed
above
the
200-day
SMA
around
$65,000,
forming
a
golden
cross
within
this
level,
which
further
supports
the
bullish
sentiment.

The
Relative
Strength
Index
(RSI)
has
also
crossed
above
the
70-overbought
region,
currently
at
71,
which
is
an
indication
that
the
asset
is
currently
under
intense
buying
pressure.

Moreover,
the
Moving
Average
Convergence
Divergence
(MACD)
confirms
the
bullish
stance,
as
the
blue
MACD
line
has
now
crossed
above
the
orange
signal
line,
which
shows
a
bullish
crossover.

If
the
BTC
price
sustains
this
momentum,
the
bulls
could
propel
the
token
even
further,
as
they
target
the
next
possible
resistance
zone
at
$105,000.

However,
the
RSI
now
shows
that
BTC
is
oversold
and
overextended,
a
signal
of
an
incoming
correction.
In
this
scenario,
the
price
of
Bitcoin
could
plunge,
with
the
50-day
and
200-day
SMAs
acting
as
the
next
possible
support
levels
at
$91,764
and
$77,235,
respectively.

As
the
Bitcoin
price
soars,
investors
are
also
piling
into
a
new
meme
coin
called Crypto
All-Stars
(STARS),
which
ClayBro,
a
popular
crypto
YouTuber
with
over
130K
subscribers,
says
could
soar
10X
after
launch.

Crypto
All-Stars
Presale
Ends
In
27
Days

Crypto
All-Stars
has
raised
over
$5
million
as
investors
pile
into
the
innovative
project
before
its
presale
closes
in
about
27
days.

Its
MemeVault
protocol
gives
investors
the
chance
to
stake
multiple
meme
coins
on
a
single
platform
for
the
first
time.

Dogecoin,
Shiba
Inu,
PepeCoin,
Floki,
Brett,
Mog
Coin,
Milady,
Turbo,
Toshi,
Coq
Inu,
and
Bonk
can
all
be
staked
on
the
platform
from
launch,
and
the
team
has
plans
to
add
more
meme
coin
titans
in
the
weeks
ahead.

Why
Is
Everyone
Excited?

In
its
initial
presale
phase,
Crypto
All-Stars
raised
over
$350k!
????

This
early
success
shows
that
investors
see
BIG
potential
here.
????

Could
this
be
the
next

$PEPE?
????

—
web3telepath
(@web3telepath)

August
15,
2024

You
can
also
earn
passively
through
the
project’s
native
staking
mechanism,
which
offers
an
impressive
366%
annual
percentage
yield
(APY)
on
staked
STARS
tokens.

You
can


buy
STARS
tokens
now
for
$0.0015997
each
from
the
official
website
here

using
BNB,
USDT,
or
a
bank
card.

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