That was a retracement in the middle of a well-established bulltrend. This is consolidation/accumulation at what so far has been the bottom of a bearmarket.
If you look at April/May 2015 you get a pattern that matches more closely and exists in the same context.
traderview2
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@IronKnight, You are correct on that. I was looking for the movement after the last time Bitcoin has done a consolidation like this.
If you look at April/May 2015 you get a pattern that matches more closely and exists in the same context.