Two weeks after making an all-time high at just under $74,000, bitcoin is irresistibly climbing back to this level again. Once this price is achieved, and bitcoin is able to hold above, some rapid price expansion might take place.
A supply shock like no other
The current supply of bitcoin from the network is set at around 900 BTC daily. With the buying of just the Blackrock and Fidelity Bitcoin ETFs accounting for more than this on many days, and the supply set to reduce by half in April, the scene is set for a supply shock like no other.
Bull flag breakout
Source: Coingecko/Trading View
In the very short time frame of the hourly, $BTC has broken out of its bull flag. A measured move for the flag could take the price to $76,000 and a new high.
Inverse head and shoulders pattern
Source: Coingecko/Trading View
Zooming out a little further into the 4-hour time frame, it can be seen that bitcoin is also playing out an inverse head and shoulders pattern. The measured move for t
We współpracy z: https://cryptodaily.co.uk/2024/03/bitcoin-off-and-running-into-next-stage-of-bull-market
