Bitcoin set a new historical high yesterday and further broke through today, reaching a peak price of $100,600, heading straight for $110,000! Our target also needs to be adjusted; the current target is $110,000, which I expect is very likely to be achieved in December, with basically a 99.99% probability.
From the data, the $100,000 threshold has firmly established itself, and the short-term moving averages have all climbed above the $100,000 mark, forming a steady upward trend. From the chart, Bitcoin has already broken away from the previous consolidation area, breaking upward and steadily climbing. The upward channel is also very clear, with the target aimed directly at the $110,000 high, and even the lower part of the channel has not been touched, indicating that it is currently in a very safe upward channel.
Looking at the weekly chart, Bitcoin's trend clearly shows a sharp upward momentum, quickly breaking through $100,000 and heading toward $110,000. This trend undoubtedly proves that Bitcoin has entered a bull market.
