But we have to keep in mind this is an overextended run without any significant pullback. Price doesn’t rise in straight lines
So we can expect some kind of reaction at around 4.4k
And if we get to those 5k levels I still expect us to see the yearly lows again
So we can expect some kind of reaction at around 4.4k
And if we get to those 5k levels I still expect us to see the yearly lows again
Could be.
However I still think the "real" bottom was around $5500 and we are now slingshotting back to it having oversold due to Craig Wright bag dumping/shenanigans.
Evenyone's waiting for a 2014 type capitulation to today's equivalent of $183, but the difference is that back then it took a couple of weeks to build the ATH with no consolidations on the way. This time it took an entire year and there were plenty of big consolidations during the build up.
Add to that the fact that the alts are now starting to recapitalise in a big way. That was what was needed to confirm the bottom and start a reversal in BTC because BTC cannot grow without massively reduced dominance as a launching pad.

I would argue that the alts recapitalizing is a sign the bottom is not in yet. The alts need to die. When Bitcoin rises and the alts are dying, then the bull market for bitcoin begins. The alts have been a major distraction, most need to die. I have been accumulating Bitcoin in the 3100 -4000 range , but I really don't believe the bottom is in yet.
My SOMA guess, too, is that we need to retest at least the mid 3k's. It ain't over until the fat lady sings.