Bitcoin hits a new all-time high and next thing you know it turns sideways very close to resistance. The only drop was short-lived and everything sold was quickly bought. Why is Bitcoin consolidating so close to resistance? It is preparing to move ahead.

What happens when Bitcoin moves forward after so much recovery? Everything experiences a positive cycle. This is a very strong signal.

This chart allows for more whipsaw as you know nothing else is possible in a trading range. We predict the pattern to resolve bullish, but there can be swings to either side. A swing down just as it happened 25-July. A swing up just as it happened 14-July. This is always possible but the end result won't change. Bitcoin will continue sideways but when the sideways period is over, you will not see a move toward $110,000 or $100,000. The break of the trading range will confirm the advance toward $135,000 next month. Bitcoin is likely to continue in the same mode. While Bitcoin consolidates the new advance, the altcoins grow. In this way the entire market continues to recover and grow month after month after month.

Name Your Altcoin

Leave a comment with your favorite altcoin trading pair and I will do an analysis for you. I will reply in the comments section. Make sure to include any questions you might have beforehand.

If you see a comment with a pair you like, boost and reply so these can be done first.

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