We are currently at the key point which will test this theory. Bitcoin has bottomed out in May, shown some growth since, experienced a period of stability with bears slowly pushing the price down. indicators were slowly defeated, we had a slow exit from , and now we've fallen out of a upwards channel, but not with a lot of force. Bears are weak, bulls are desperate, and since it's summer it's likely that we'll see a slow uptrend and then, possibly, another bubble once everybody gets back from summer vacation.
Waiting for confirmation, higher low or slow uninterrupted uptrend, and having my long ready.