đ° The 140 days of sideways action post-halving, just like in 2016 and 2020, is wrapping up by mid-September.
We just need to survive these next couple of weeks of choppy price action before the breakout đ
The chart highlights three distinct periods where Bitcoin's price experienced significant upward movements after a consolidation phase:
1. **First Phase (2017)**:
- There is a green rectangle marking a consolidation phase of 140 days, indicated by "20 bars, 140d Vol 576.896K."
- After this consolidation, a blue upward arrow shows a significant price increase.
2. **Second Phase (2020-2021)**:
- Another green rectangle marks a similar 140-day consolidation phase, indicated by "20 bars, 140d Vol 1.072M."
- This is followed by another substantial price increase, depicted by a blue arrow.
3. **Current Phase (2023-2024)**:
- The chart shows the latest consolidation phase of 140 days, marked by a green rectangle with "20 bars, 140d Vol 227.718K."
- There is a blue arrow suggesting a potential future price increase, similar to the previous patterns.
The chart appears to be suggesting that based on historical patterns, Bitcoin could be on the verge of another major price increase, potentially reaching levels above $280,000.
