Bitcoin Consolidaiton- Bullish Signal

Bitcoin has surged this month and in Q2 2019.  Now it's Q3, and the price action is looking bullish.

After a surge from $9,000 to $13,000/coin, Bitcoin has entered a consolidation period at $11,000 with a break upwards looking probable very soon.  The resistance level is at $11,500.

Altcoins have swooned as Bitcoin has surged.  This matches the typical pattern the king of cryptocurrencies displays before a surge upwards.  During the bull run and bubble period of Q4 2017, we saw similar price action as we do now.  This time, we will likely see more sanity.  It looks like we could head to all time highs in the Bitcoin price if a golden cross pattern emerges.

Watch for the catalysts below for a Bitcoin breakout:

- Bitcoin halving of rewards in May 2020 from 12.5 BTC/block to 6.25 BTC/block.

- Bitcoin adoption by Amazon or other online retailers.

- Libra coin adoption and skepticism of its centralized and commercial nature.

- Continued positive press and media coverage including social media.  Usage of more social media cryprocurrency.

We are living in interesting times for the cryprocurrency market.

Sources:

Originally published in my Weku account I own at:
https://deals.weku.io/community-deals/@wstanley225/bitcoin-consolidaiton-bullish-signal

Also pulished in my Hyperspace, Publish0x, Serey, Bearshares, Whaleshares and Golos accounts I own.

Picture from Pixabay.

 https://coinmarketcap.com/
 https://finance-yahoo-com.cdn.ampproject.org/v/s/finance.yahoo.com/amphtml/news/price-indicators-suggest-bitcoin-hit-150014599.html?amp_js_v=a2&_gsa=1&usqp=mq331AQA#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&ampshare=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fprice-indicators-suggest-bitcoin-hit-150014599.html