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.
Nota
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.
Trade ativo
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Google Trends: Explosion in the number of searches for the term “Bitcoin ETF” ...
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I still expect a V-bottom on 31K support in the coming weeks.
Trade ativo
Finally, I no longer anticipate a throwback:
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The breakout from 38K to 42K then 48K is very close.
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