Bitcoin Breaks the $100,000 Barrier, Surge Expected to Reach New Highs Today

Last night, the cryptocurrency market experienced a significant breakthrough, with Bitcoin (Big Cake) price strongly breaking through the $100,000 threshold. Following this, the upward momentum continued, successfully forming a bottom around $101,000, and multiple pullback tests did not break this critical price level, demonstrating the strong effectiveness of this support level.

From a technical analysis perspective, the market shows significant bullish signals. The MACD indicator has been consistently above the zero axis, with the DIF line and DEA line maintaining an upward divergence, which is generally seen as strong evidence of the market entering a strong bullish trend, indicating that upward momentum is continuously accumulating.

The Relative Strength Index (RSI) is currently at 71.2. Although it is nearing the overbought zone, there are no obvious signs of a price pullback, indicating that the buying power in the market remains strong, and Bitcoin's price still has room for further upward movement.

Additionally, the short-term EMA three lines are in a bullish arrangement, with Bitcoin's price significantly above all moving averages, showing that the current upward trend is extremely strong, with bulls dominating market control.

Based on the aforementioned market performance, today's trading strategy suggests a continued bullish stance. Investors can establish long positions relying on the strong support level at $101,000 below, with upper target levels sequentially looking towards $102,700 and $103,700, expecting to witness Bitcoin's price reaching new highs.

However, the cryptocurrency market is known for its volatility, and while investors seize potential profit opportunities, they must closely monitor market dynamics, implement risk management, and cautiously respond to possible price reversals.