[Bitcoin] Bullrun

The upward structure of the price, begun in January, accelerated sharply this week due to a validation of spot Bitcoin ETFs probably at the beginning of 2024. A throwback to the major pivot zone of 31K is expected before continuing the rise.

Comment:

There are several technical factors which explain the increase but above all there are four fundamental reasons: the low supply owned by exchanges, the validation of spot ETFs in January, the mining price and the next halving.

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Comment:

Google Trends: Explosion in the number of searches for the term “Bitcoin ETF” ...

Comment:

I still expect a V-bottom on 31K support in the coming weeks.

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Finally, I no longer anticipate a throwback:

Comment:

The breakout from 38K to 42K then 48K is very close.

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Comment:

The rise towards 48K is close.

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Trade closed: target reached