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Bitcoin: Multi-month consolidation ahead?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This study looks at yet another indicator on the long term (monthly) chart, the ADX , which in full agreement with Bitcoin's market cycle dynamics, shows the potential of a lengthy consolidation period.

More specifically, during the last bear cycle (2014/2015) DI+ (representing buying pressure in green) crossed with DI- (representing selling pressure in red) between January and September 2015 and kept BTCUSD ranged in a consolidation phase. That was known as the accumulation phase that was the necessary step, paving the way for the next bullish run.

We may have a similar situation at hand with the two indicators close to crossing again. Will Bitcoin enter a new consolidation period?

See more insight on how those market phases shape Bitcoin's cycle dynamics to better understand the current study:


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