It seems quite probable that $BTC is building a new growth channel as it approaches the third halving event next year. The R/S scaffolding seems to have been put in place since the lows of a few months ago. We tried to break back into the previous channel, and got rejected. This isn't a case of gloom, but actually rather healthy. Everyone is focused on scarcity of supply, but ignoring that adoption is the demand side of the story and price is the interaction of the two. Adoption may yet pick up after the Fidelity, TDAmeritrade and Bakkt effects begin to draw in demand. However, until then, and maybe even then, it seems like a new growth channel is what we may be in.