Dangerously bullish setup for Bitcoin

Back on October 23 we posted a long trade idea for Bitcoin titled: Bitcoin attempting to break over a significant long-term level where we outlined the bull case for a breakout over 32K to bring more momentum and higher targets for the King of cryptocurrencies.

Here we are 2 months later with prices up 9 out of the last 10 weeks and Bitcoin has entered into a sideways consolidation through time, rather than any meaningful correction in price all while the market awaits two bullish catalysts: a spot ETF approval and the halvening.

A breakout up and over 45K starts to put former all-time high targets into traders minds and likely arrives at a fast clip. (disclosure: long).