The moving average convergence divergence (MACD) histogram has flipped positive on the weekly chart for the first time since April, indicating renewed upward momentum for Bitcoin.
A bullish flip in the MACD correlates with past market rallies and could signify the end of Bitcoin's prolonged trading range, setting a path toward significant price increases.
Prevailing market conditions, including potential U.S. rate cuts and favorable political outcomes, reinforce the outlook that Bitcoin could reach $100,000 by December.
Bitcoin has risen nearly 30% since early September lows, demonstrating strong performance amid positive market indicators, as current bullish signals suggest further gains in the near future.
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