BTC is a fractal. You can see it behaving the same way in all timeframes: after a big move, it follows a consolidation pattern, either pennant-shaped or triangular.
Looking at the monthly perspective, BTC still needs to consolidate from the 2017 bubble. Difficult to say yet which path it will be taken:
- triangle consolidation: it would repeat the consolidation pattern happened between January 2018 and November 2018 (look at the weekly chart)
- pennant consolidation: this happens very frequently after each move, you can see it after each spike during the 2017 bull run, but as well during the moves happened over the last months.
What happens afterwards, no one knows. But we definitely need to wait at least a few more years before seeing substantial changes in the market.
Looking at the monthly perspective, BTC still needs to consolidate from the 2017 bubble. Difficult to say yet which path it will be taken:
- triangle consolidation: it would repeat the consolidation pattern happened between January 2018 and November 2018 (look at the weekly chart)
- pennant consolidation: this happens very frequently after each move, you can see it after each spike during the 2017 bull run, but as well during the moves happened over the last months.
What happens afterwards, no one knows. But we definitely need to wait at least a few more years before seeing substantial changes in the market.