$BTC at the $100,000 Zone Again: Is This the Start of a New All-Time High?

Bitcoin has surged once again, approaching the $100,000 per coin mark. However, this time, the MACD indicator signals that the bullish momentum might just be beginning!

Note: The chart in the image is an hourly chart (1H).

------------ Key Observations: ------------

MACD Indicator:

The histogram is showing increasing green bars, indicating a strengthening upward momentum.

The MACD line (blue) has crossed above the signal line (yellow), confirming a buy signal.

Support and Resistance:

The strong resistance level around $98,500 has been tested by the last three candles. A breakout has occurred, turning this level into new support.

Maintaining this support is critical for the continuation of the upward trend.

Potential for a New All-Time High:

With bullish momentum building, this breakout could potentially push Bitcoin to revisit or surpass its all-time high.

---------------- Reccomended Trading Actions: -----------------

Enter a Long Position (Buy):

Consider entering $BTC a long trade as the upward trend strengthens.

Set a Stop Loss:

Place the Stop Loss at $98,400.

This level is slightly below the critical resistance-turned-support, offering a safe margin (less than 1% drawdown).

Take Profit Strategy:

Follow the MACD Histogram for exit signals.

Sell once the first MACD histogram bar closes below the previous one, indicating weakening momentum. [I drew an example on the image (marked in yellow at the bottom)]

This setup offers a promising opportunity, but traders should monitor key levels and ensure proper risk management. Could this be the long-awaited push to a new ALL TIME HIGH? Only time will tell!