We are likely entering the pre bull market phase...

Bitcoin isn't going to make new highs any time soon, but it's also not likely to make new lows any time soon either.

Based on past cycles and patterns, it looks like bitcoin may be starting the slow climb higher of the next bull market here pretty soon.

Check it out:

(source: https://twitter.com/AurelienOhayon/status/1556764491806871552/photo/1)

This pattern would have bitcoin peaking in late 2024.

The peak price would be around $220k.

I am not sure I see this playing out exactly like this, it usually doesn't, but it's also hard to argue the trends here and I could easily see something similar to this playing out...