Bitcoin Penetrates 100k - Market Analysis for Dec 5th, 2024

Good Thursday Morning, MPTraders!  December 5, 2024-- Pre-Market Update: Bitcoin is the elephant in the room as it digests its thrust above 100,000...The equity indices are levitating at new ATHs ahead of tomorrow AM's next macro catalyst-- The November Jobs Report... Some Notable Earnings after the close: LULU, ULTA, DOCU, GTLB... 

My attached Daily Chart of Bitcoin shows its upside penetration of 100,000 to a new ATH of 104,028 that has satisfied my next upside target zone. As long as any forthcoming weakness is contained above 96,300, my pattern work cannot rule out upside continuation to challenge 110,000-112,000 next... 

Also shown below is the explosive vertical assault of COIN (Coinbase), which has rocketed to a new high at 350.13 this AM. As long as any forthcoming weakness is contained above 332-336 support, COIN points next to 390-410... Last is 348.00...

Next Up: ES and then 10-year YIELD...