Nothing goes straight up, BTC in consolidation mode

in bitcoin •  4 years ago 

Bitcoin has been up for 6 months in a row, nothing goes straight up

Now it's time for BTC to consolidate for a bit.

You can probably forget about those lambos for at least the next month or two, might take a bit longer for bitcoin to regain its momentum.

But this doesn't look like a top yet, it looks more like intermission:

image.png

(Source: https://twitter.com/100trillionUSD/status/1385607970059345924/photo/1)

We saw this both in 2013 and in 2017.

The consolidation in 2013 was longer than the one in 2017, but both took a bit of a breather about halfway and 2/3rds of the way through the move.

I think that is where we are right now in bitcoin.

Now's the time to prepare for the blow off top...

Stay informed my friends.

-Doc

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Thank you!

@jrcornel Do you think during the one of two months of consolidation there is going to be an alt-season?

no prbl now goes up again