Odaily News Bitcoin’s moving average convergence divergence (MACD) histogram turned positive on the weekly chart for the first time since April, according to data from charting platform TradingView. This signals a renewed uptick in Bitcoin’s momentum, which is on track to break out of a long-standing pattern of hovering in the $50,000 to $70,000 region. The positive technical outlook aligns with industry consensus that the Federal Reserve is once again leaning toward rate cuts, the increasing likelihood that pro-cryptocurrency Republican candidate Trump will win the Nov. 5 U.S. election, and weakness in the risk-resistant yen could push Bitcoin to at least $100,000 by the end of December. A similar MACD bull crossover occurred last October, when Bitcoin broke through long-held resistance at $30,000, ultimately reaching an all-time high of more than $73,000 in March of this year. A bull crossover that occurred in late 2022 marks the bottom of the bear market. (CoinDesk)