Recently bitcoin has experience  a sharp dropped  in price, since the approval  of bitcoin sport  ETFs. The digital  gold  dropped  to the price of $41000, gathering support  at  $40000.56, due to the sells pressure and necessary corrections.            

                        THE SPIKE

On Feb 7/2024, the largest crypto currency spiked to about $ 43000 to $44600, as of 8 feb/2024,bitcoin reaches 45300 as investors  and  traders  keeps open hope with heavy  accumulations. This uptrend  is triggered  by millions  flowing  into the market, with bitcoin  sport ETFs trading volume topping  billion dollars, black rock leading the pack.

                       EXPECTATIONS 

With eyes fixed  on the big day coming, "bitcoin halving ", investors/ traders are expecting  the price  of bitcoin  to reach the highs of $200,000 . Hopefully, this  price Is very much achievable, with  the bitcoin sport ETFs approval and the bitcoin  halving  event. Certainly 2024 bull market will be one to be remembered.

                   THE CHART VIEW 

Bitcoin finally  gote  to $45352.97.  What should traders be expecting  from here  ? Well there are two possible  events;

1) price will build  up or consolidate  around  the price of $45,300, if this happens, then we should be expecting  a sharp  spike up into $47,000

2)  price will drop to the price of $43700 to make some correction  before  proceeding upward 

So guys that's  my analysis, you can tell me what you think in the comments  section. 

Thanks  for taking  time  to read.