Consolidation time?
Nice pump over the last couple of days, which provided a big leg up from previous sideways movement at just under 60k.
Does that previous consolidation demonstrate the market is slightly more considered and patient during this bull run? I anticipate another period of consolidation between $62.5 and $64.5 before the next leg up to around the 70k mark.
Personally, I will look for some small short scalps between the key areas of support and resistance, but ultimately remain highly bullish. The Pi-cycle has predicated a top, but I don't see it (unless a local top to be superseded later in the year). MVRV-z and Stock to Flow suggest this run has a long way to go.
Does that previous consolidation demonstrate the market is slightly more considered and patient during this bull run? I anticipate another period of consolidation between $62.5 and $64.5 before the next leg up to around the 70k mark.
Personally, I will look for some small short scalps between the key areas of support and resistance, but ultimately remain highly bullish. The Pi-cycle has predicated a top, but I don't see it (unless a local top to be superseded later in the year). MVRV-z and Stock to Flow suggest this run has a long way to go.
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