April - October 2017
We saw the initial run up to over $115 B market cap in June and then a decline to just under $70 B from the previous high. We then observed a period of sideways movement for about 4 weeks or so into August. After this sideways movement we then saw the next sustained leg up that pushed us above $177 B market cap. And then we declined to $101 B. Let's keep this pattern in mind as we move to the next chart.
October 2017 - January 2018
Here we observe a prolonged sideways movement with an upward bias, along with volume support. In my opinion, this sideways trend is what we want to see over the next few months to build a nice base of support for the next leg up.
January 2017 - January 2018
But let's also zoom out and see how far we've come. The red circle is the April - October 2017 time frame and it looks like a small bump at this scale. Will 2018 bring similar trends?
As always, this is just commentary and observations. This is not financial, legal, or investment advice.
