man i figured the bull run wouldn't start till late summer or early fall, but with the price the past 6 weeks or so steadily rising and continuing now at $4100 it could be starting soon. Price is at the top of the bottom range now. Will be interesting to see if it falls back down in the coming week or two or if it breaks out into the mid or high 4000s.
I could see either way happening.
How did you figure that out, was it through the chart of the past data? Personally I don’t base the present market condition or function on past data because every period has a different happening but buttressing your point on the recent happening, I strongly have the belief that the market has recovered and slowly walking on the bull run lane.
So, what we will just be experiencing now are increase in price little by little in which people will be adapted to it as it grow till it finally heat its all-time high, It may be this year and may not be but the following year is quite very certain for these coins especially Bitcoin
Charts don't confirm that
I posted a Bitcoin price chart a couple days ago (you can find it in my post history), and it doesn't look like we are rising beyond what we have been "rising" all these past months. It doesn't even look like a genuine bull trap as we haven't yet made it past recent highs (e.g. 4.3k in February) to call it a bull in the first place. In other words, we are trading near the upper bound of the established price channel so far. We need a break-out above 4.5k to actually start talking along "the bull run lane" (read, don't be too optimistic yet)
the way i see it, to call a new bull run we either need to break out of a long term sideways like 2015, or we need to be trading and holding above the $6k resistance. it's only been 3.5 months since the last crash ended (vs 9 months in 2015) so we definitely haven't seen enough sideways yet. i smell a bull trap
A bull trap for those of us who think we are in a bull run
