The analysis reviews Bitcoin's price action, noting sustained bullish momentum after prior reversals. The blue line on the chart represents the value area low, considered the range low. On the four-hour timeframe, a reclaim has not been achieved. However, there is a strong resistance level. Lower timeframes show constructive price action after reclaiming the seven-day rolling VWAP. The fundamentals have not been a problem, with equities performing well and the volatility index decreasing. A positive Asian session also supports the analysis. However, potential bad news or higher-than-expected inflation rate data could reverse the trend. As long as Bitcoin holds above 108600, the structure remains bullish. The target is 113000 to 114000.