BTC三TH experienced a significant gain of nearly 700% following its highly anticipated crypto listing. The meme coin reached a high of $0.00005066 before experiencing a pullback due to profit-taking.
Currently, BTC三TH is finding support near the 50 EMA on the 5-minute chart and is stabilizing between key levels. Investors hope for a continuation of the upward trend.
Despite retreating from its peak, BTC三TH remains up a substantial 448.83% for the day, given the volatility surrounding its listing.
Btc三Th’s Indicators Suggest Consolidation Before Continued Trend
The 5-minute chart for BTC三TH reveals three significant EMA levels – 20, 50, and 100. The coin is currently trading at $0.00003518, slightly below its 20 EMA but above its 50 EMA.
This indicates that BTC三TH is consolidating between these two levels, suggesting stability despite its initial volatility.
The RSI for BTC三TH is currently at 48.88, just below 50. This suggests a lack of control by either buyers or sellers at the moment.
A potential retest of the RSI50 could continue the upward trend, while a failure to cross it may result in further consolidation or downside.
Monitoring Btc三Th’s Key Levels Could Potentially Present Trading Opportunities
Regarding resistance, BTC三TH faces obstacles at its 5-minute 20 EMA and the Fib 0.382 level. Breaking past the $0.00004058 to $0.00004242 range, near the Fib 0.236 level, may continue the upward trajectory.
On the other hand, the 5-minute 50 EMA and Fib 0.5 level serve as support. Failing to maintain above these levels could lead to further downside.
As BTC三TH stabilizes after its volatile launch, traders have an opportunity to capitalize on the ongoing consolidation.
By carefully monitoring key support and resistance levels, as well as momentum indicators like the RSI, advantageous entry and exit points can be identified.
While BTC三TH experienced significant gains, the wider cryptocurrency market continues to exhibit a negative investor sentiment. Many are seeking projects that can provide returns even in the absence of significant crypto price volatility.
Bitcoin BSC (BTCBSC), a new cryptocurrency, aims to meet that demand by allowing token holders to earn staking rewards on the Binance Smart Chain (BSC).
Rising Bitcoin Derivative Looks to Take Advantage of Current Crypto Bear Market
BTCBSC positions itself as a ‘Bitcoin clone’ or Bitcoin derivative, seeking to build upon the technology of the original Bitcoin network. The project adopts familiar tokenomics to Bitcoin, including a fixed total supply of 21 million tokens.
However, BTCBSC distinguishes itself through its proof-of-stake consensus mechanism and integration with BSC. Proof-of-stake enables BTCBSC to operate with significantly lower transaction fees and faster confirmation times compared to Bitcoin.
An average BTCBSC transaction costs around $0.10 and is confirmed in under 5 seconds. In comparison, Bitcoin transactions can take over 10 minutes to confirm and cost over $10 depending on network congestion.
BTCBSC’s integration with BSC also allows it to support smart contracts. This functionality unlocks the staking rewards system, which currently distributes 69% of the total token supply to participants over a 120-year period.
Staking Incentivizes Holding BTCBSC Tokens
According to the project’s whitepaper, the BTCBSC staking rewards system serves two purposes.
Firstly, it provides token holders with a way to earn a yield on their investment without solely relying on price appreciation. At current rates, stakers can achieve an annual percentage yield (APY) of approximately 8-10%.
Secondly, staking discourages selling by incentivizing the long-term holding of tokens. Many projects experience significant price declines after launch as early investors dump their tokens on the open market. By rewarding holding through staking yields, selling pressure is reduced.
This combination benefits both long-term holders seeking recurring income and investors focused on capital gains who aim to mitigate post-launch volatility.
By distributing the majority of tokens through staking rewards, BTCBSC incentivizes the long-term holding necessary to minimize price swings after launch.
This allows for more sustainable growth compared to other crypto projects.
BTCBSC Presale Currently Open to Public
In addition to staking rewards, BTCBSC seeks to drive demand through presale scarcity and speculation leading up to the next Bitcoin halving in 2024.
The project is currently conducting a public presale, offering 29% of the total token supply to early participants. Tokens are priced at $0.99 each, which is comparable to Bitcoin’s price in 2011 according to the development team.
Following the presale, BTCBSC will be launched on the decentralized exchange PancakeSwap. Liquidity has already been locked through Unicrypt, reducing the risk of a potential rug pull.
For those looking to earn yields on their crypto holdings, BTCBSC’s staking model presents an intriguing option.
Disclaimer: Crypto is a high-risk asset class.