After running up from a little over $3k all the way to just under $14k, bitcoin has been in consolidation mode for the past few months.
It has been holding steady right around the $10k mark.
Where do we go from here?
The way I see it, we either start to move up as soon as the next week or two, and break that $14k number in the next couple months on our way to all time highs before the end of the year...
A dip that looks something like this:
(Source:
)https://twitter.com/CryptoMichNL/status/1165234162820898817
- CryptoMichNL
A dip like this would take prices back down to the $8k or $8.5k area.
However, as you will notice, then I still think we eventually go on to make new highs before the next halving in May of 2020.
So, either way, I think bitcoin is going to make new highs before the next halving.
Looking at what happened during the run up in 2017, I actually think we are more likely to just start going up from here without that dip to the $8k's first.
We have had had 9 weekly candles since the peak during this most recent bull run, which is exactly how many we had during the first pullback at the start of the 2017 bull run before prices did their second leg up.
I think we see that play out again here.
This is just my opinion and not financial advice.
Stay informed my friends.
-Doc
