Bitcoin Price Prediction: Bitcoin ETF Ads Might Appear On Google Starting Monday As This BTC Derivative Soars Past $9.6 Million

The Bitcoin price is down a fraction to trade for $42,157 as of 1:10 a.m. EST time, with trading volume surging nearly 15%.

It comes after BTC found an inflection point, marking a turnaround point from the 10% drop to the $38,555 intra-day after a break below the ascending channel.

With a new demand zone in place, the Bitcoin price is staging a recovery rally, steered by the hype of the possibility of BTC exchange-traded funds (ETFs) advertisements appearing on Google starting Monday, January 29.

Bitcoin ETF Ads Likely To Appear On Google Starting Monday

The US Securities and Exchange Commission (SEC) approved multiple spot BTC ETFs on January 10. With this landmark development, Bitcoin is now available via some of Wall Street’s biggest fund managers, including BlackRock and Fidelity.

With such products expected to meet updated criteria for ads on Google , Bitcoin ETF ads are soon likely to feature on the search engine’s advertisement board.

Considering Google is the biggest advertising network globally, boasting nearly 100,000 searches per second and representing approximately 90% of the global population, such an expansive reach looks poised to be a big boost for both BTC ETFs and Bitcoin itself.

In the meantime, a marketing war is ongoing with Blackrock, Hashdex, and Bitwise, among others, already having run commercials for their spot Bitcoin ETFs.

Bitcoin Price Outlook: Week Ahead As BTC ETF Ads Go Live On Google

The Bitcoin price faces opposition from the 50-day Simple Moving Average (SMA) at $42,796. Nevertheless, the odds favor the upside and the recovery rally could extend north. To begin with, the Relative Strength Index (RSI) has restored above the 50 midline, pointing to the bulls regaining control of the price strength.

The histogram bars of the Awesome Oscillator (AO) have also recovered the green shade, steadily edging towards positive territory above the indicator’s midline. In addition, a close look at the Moving Average Convergence Divergence (MACD) indicator reveals a bullish crossover, executed when the MACD crossed above its signal line (orange band). These indicators favor the upside potential for the Bitcoin price.

If the bulls show fortitude, the Bitcoin price could shatter the resistance due to the  50-day SMA, flipping it into support before confronting the critical supplier congestion level, $43,750.

An extended push north could send the Bitcoin price to the $48,000 psychological level, or higher, reclaiming the $48,969 range high last tested on January 11. Clearing this local top would bring the $50,000 psychological level into focus, nearly 20% above current levels.

BTC

TradingView: BTC/USDT 1-day chart

Converse Case

However, if traders book profits now for the 10% gains made since the January 23 low of $38,555, the Bitcoin price could lose all the ground covered. This could see BTC rejected from the 50-day SMA to retract back to the $40,726 support.

An extended fall could see the Bitcoin price seek support due to the 100-day SMA at $39,974. If this buyer congestion level fails to hold as support, BTC could drop into the demand zone extending from $38,496 to $39,895. A break and close below the midline of this order block at $39,196 would confirm the extension of the fall, with BTC likely to revisit the critical support at $37,800, last tested on December 1.

Nevertheless, for the big-picture bullish outlook seen on the BTC/USDT daily chart to be invalidated, the price must record a daily candlestick close below the $30,000 psychological level.

On-Chain Metric To Support Short-Term Bullish Outlook For the Bitcoin Price

Among the on-chain metrics supporting the bullish thesis for the Bitcoin price in the short term is the BTC exchange flow balance. As shown in the chart below, this metric is on a steady downtrend, suggesting reducing intention to sell. With dwindling selling pressure on the king of cryptocurrency, the Bitcoin price upside potential becomes even stronger.

BTC

BTC Santiment: Price, Exchange Flow Balance

As indicated, the exchange flow balance is -87, where the negative indicates more BTC flowed out of exchanges than what flowed in. If it were positive, it would suggest more BTC was flowing into exchanges than what came in. Notably, enhanced inflows into exchanges are interpreted as an intention to sell.

Meanwhile, the countdown to the BTC halving, which is expected on April 24, continues. The event is considered a catalyst for the asset, as the Bitcoin price hit a new all-time high after halving in the past. With this, Bitcoin ownership is coveted more than ever, and that’s boosting the BTCMTX presale.

Promising Alternative To Bitcoin

The BTCMTX presale is giving investors easy and convenient entry into the Bitcoin Minetrix ecosystem. This is a cloud-mining project, where BTCMTX token holders get to stake their holdings for credits.

These credits are redeemable for mining hash power. With the entire process tokenized and decentralized, it gives investors a better deal than the traditional Bitcoin mining approach.

BTCMTX is also ranked among analysts’ top picks for the best penny cryptos to buy with potential for great returns. Investors looking to buy BTCMTX, the powering token for the Bitcoin Minetrix ecosystem, can do so on the official website.

Each token is selling for only $0.0131, with the presale already accumulating upwards of $9.7 million and the target of $10.326 million within sight. But a price hike is coming in less than two days, which means there’s no time to lose for interested investors.

Visit Bitcoin Minetrix to buy BTCMTX here.

Also Read:

  • How To Buy Bitcoin Minetrix On Presale – Alessandro De Crypto Video Review
  • Bitcoin Minetrix Presale Has Just Hours Left: Last Chance to Buy Before Price Rise

Comments

Post a Comment

Popular posts from this blog

Manta Network battles DDoS attack after TGE as new Telegram bot steals the show

Manta Network battles DDoS post-MANTA launch; 135M RPC requests flood, causing delays. Bitbot revolutionizes retail trading on Telegram with non-custodial, AI-backed solutions. BITBOT token presale unfolds across 15 stages, offering investors a structured opportunity. In a whirlwind of recent events, Manta Network faced a DDoS attack right after the successful launch of its MANTA token, causing a stir in the crypto community. Meanwhile, Bitbot, a Telegram trading bot, is making waves by empowering retail investors. Jin us as we delve into the challenges Manta Network is facing and explore Bitbot’s mission to put institutional-grade tools in the hands of individual investors. Manta Network DDoS attack Manta Network, a modular blockchain protocol renowned for its focus on zero-knowledge (ZK) application development, encountered a significant setback shortly after the launch of its governance token, $MANTA. The network experienced a Distributed Denial o...
Read more

DOGE price prediction as expert forecasts target above $0.10

Image
With the previous week bringing gains for the cryptocurrency market, some digital assets displayed promising signals that might indicate their future movement. Dogecoin (DOGE) is one of those. The TD Sequential has recently generated a buy signal on the 3-day chart for Dogecoin. The probability of a resurgence to $0.100 or beyond appears favorable, contingent upon the sustained stability of the $0.074 support cluster, per a post on X by crypto analyst Ali Martinez on January 14. TD sequential for Dogecoin on a 3-day price chart. Source: Ali Martinez The TD sequential is a robust tool crafted to pinpoint the precise moment of trend fatigue and subsequent price reversal. As a counter-trend instrument, it addresses the limitations observed in various technical Analysis indicators that prove profitable in trending markets but exhibit suboptimal performance in sideways or ranging markets. Another technical indicator is not so optimistic Many technical indicators should be employed t...
Read more

IRS, Treasury temporarily waive business crypto reporting requirements

IRS and Treasury say businesses do not have to report cryptocurrency receipts until new regulations are issued. In a press release on Jan. 16, the Internal Revenue Service (IRS) said in a joint statement with the U.S. Treasury Department that American business es do not have to report their receipts in crypto currencies the same way they do with cash. However, the regulators noted the exception will only last “until Treasury and IRS issue regulations.” “Treasury and the IRS intend to issue proposed regulations to provide additional information and procedures for reporting the receipt of digital assets, giving the public an opportunity to comment both in writing and, if requested, at a public hearing.” The IRS The announcement does not impact the rules in place before the Infrastructure Investment and Jobs Act for reporting cash received in the course of a trade or business, the IRS said, adding that cash transactions over $10,000 received in a trade or bu...
Read more