Bitcoin: Multi-month consolidation ahead?

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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