• Stacks (STX) price rose more than 20% to hit highs of $1.87 as Bitcoin hit $46.5k.
• Bitbot presale surpassed $480k and was eyeing the $500k milestone.
• Here’s what Bitcoin’s big move suggests for Bitbot, the world’s first non-custodial Telegram trading bot.

The total crypto market cap rose more than 4% to above $1.8 trillion as Bitcoin price spiked past the $46k resistance level on Friday. As the “OG crypto” hit the paces once more, Stacks edged higher amid a double digit surge. Meanwhile, a new wave continued to swell in the shape of the viral presale of crypto token Bitbot.

Stacks (STX) soars as BTC rallies to $46.5k

A new injection of volatility on Thursday saw Bitcoin’s price surge past the $45k level to reach highs of $46,500 across major crypto exchanges. As the flagship crypto pushed higher to target its fifth straight green candle on the daily time frame, Stacks price spiked more than 20% to reach highs of $1.87.

While the gains for STX came as BTC rallied amid upcoming halving sentiment, there’s also been growing adoption across the Bitcoin Layer 2 space. Stacks has seen this via Stacking DAO, which has hit a new TVL milestone of over $35 million.

In an X post, the Stacks team says this is equivalent to having more than 20 million STX tokens unlocked, “ready to fuel the Stacks DeFi ecosystem.”

Analysts have opined that the $800 billion Bitcoin ecosystem is ripe for investors to explore and Stacks could be one of the big players in this quest. As a Bitcoin L2, Stacks enables smart contracts and decentralised apps to come to Bitcoin, leveraging the benchmark blockchain platform’s security.

If Bitcoin sees the anticipated upside, STX price could benefit from its catalysts to target a new peak beyond the $3.39 reached in December 2021.

Bitbot: Bitcoin’s rally cements BITBOT presale momentum

Bitbot is the first non-custodial trading app on Telegram. It’s a huge deal in the sector given recent incidents involving Unibot and Banana Gun – two of the trading bots to see massive traction following their launch.

Other than its MPC custody technology, which is backed by Knightsafe, Bitbot offers access to several institutional-grade tools and feature. While trading, users will have assets in the cold wallets – removing that immediate risk that custodial platforms run by holding onto users’ assets.

Bitbot enhances this focus on security and user safety with its anti-MEV and anti-rug platform solutions. As a trader, you want to know that your trades are not open to MEV bots. You also want 24/7 monitoring against potential scams and rug pulls. Bitbot’s robust security approach provides for this and much more.

As for the trading tools, the gem scanner and sniping tool stand out for what a trader can achieve with them. For instance, one can quickly identify and snipe profitable trades or snap a real presale gem just in time to get the maximum alpha.

Bitbot’s utility token BITBOT offers access to these features as well as a revenue-sharing model that gives a share of all daily revenue to holders. Passive income doesn’t get better than this.

Should you buy Bitbot given the current crypto market outlook?

Crypto trading continues to evolve as the market adopts new technology features, and the use of trading bots is just one such development. Trading solutions on Telegram are also another of the key advances.

Unibot, Banana Gun and PAAL AI are some of the current top trading bots on Telegram. Early adopters of these tokens locked in massive gains. However, none offer the non-custodial feature or advanced, institutional-grade trading tools that have Bitbot standing out.

Also, from an investment point of view, traders may fancy the potential for BITBOT to explode amid its anticipated dominance and Bitcoin’s halving-driven bull rally.  Investors with this outlook are finding the presale potentially more appealing – the likely reason Bitbot presale has stormed to close to $500k in amount raised in just over three weeks.

If you are wondering where you can learn more about this project, join the presale and read their whitepaper.

Bitcoin price failed to continue higher above $46,700 against the US Dollar. BTC is correcting gains and it might revisit the $42,850 support zone.

• Bitcoin failed to clear the $46,500 and $46,700 resistance levels.
• The price is now trading below $45,000 and the 100 hourly simple moving average.
• There was a break below a key bullish trend line with support near $45,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair is likely to extend its decline towards the $43,000 and $42,850 support levels.

Bitcoin Price Starts Downside Correction

Bitcoin price failed to continue higher above the $46,500 and $46,700 resistance levels. As a result, BTC reacted to the downside below the $46,000 support zone.

There was a break below a key bullish trend line with support near $45,900 on the hourly chart of the BTC/USD pair. The pair broke the $45,000 support level and it settled below the 100 hourly simple moving average. It even traded below the $44,000 level.

A low was formed near $43,785 and the price is now correcting losses. It recovered above the $44,000 and $44,500 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $46,758 swing high to $43,785 low.

On the upside, an initial resistance is near the $45,000 level. The first key resistance is near the $45,250 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $46,758 swing high to $43,785 low.

Source: BTCUSD on TradingView.com

The next main resistance is now forming near the $45,500 level. A clear break above the $45,250 and $45,500 resistance levels could start a decent increase.

More Losses in BTC?

If bitcoin fails to climb above the $45,250 and $45,500 resistance levels, it could continue to move down. An initial support on the downside is near the $44,500 level.

The first major support is now near the $44,000 zone. If the price fails to stay above the $44,000 support level, it could move down towards the $43,000 support level. The next major support is near $42,850, where the bulls are likely to take a stand.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $44,500, followed by $44,000.

Major Resistance Levels – $45,000, $45,250 and $45,500.