I came across this thought earlier today and immediately decided to run few indicators and prior historical analysis. Although I cannot say with confidence that this is what Bitcoin is doing right now but what I can say is that from purely visual stand point it looks very healthy.
Keep in mind that we still have to deal with which need to be broken in solid fashion before we can even begin talking about possible road up. Nevertheless I do believe that everyone needs to take a look at different charts before making a decision on whether to invest right now or give it a few more weeks.
Personally we are not doing Bitcoin for one simple reason... We like alts, because we are trying to 'over-profit' Bitcoin . That means that we invest in coins which we see growing at a faster rate then Bitcoin . This is risky for sure, compared to just staying in Bitcoin long term, nevertheless you should make your own decision on that.
Both options can be rewarding. If you're new to Bitcoin and cryptocurrency as a whole, I would recommend to just watch on sidelines without investing. It's not because I believe it will go down that I do not recommend you guys to invest now, but because newer investors have less experience with crypto world therefor may make sudden, irrational decisions on buying Bitcoin high or selling at it's low which is basically what is called FOMO and panic selling. Most traders have that.
In all, I just want you guys to be safe and not to mortgage your house for crypto without timed experience.
With that said I would like to remind all that I am in no way your financial advisor, simply a person or should I say a group of crypto maniacs who are fascinated with crypto, blockchain and crypto as a whole. If you ever decide to invest or refill your original investment, be sure to invest only what you can afford to lose.
Many macro analysts are saying the complete opposite.
Macro > Micro
I.e. Weekly ichimoku looks like it's kumo twisting into a very bearish scenario.