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Bitcoin consolidation phase within channel

I speculate on a consolidation within the parallel channel, forming a handle after 3 year long cup / round bottom

Fundamentals update:

Hashrate skyrocketing 2,985,271,637 GH/s
COIN etf next news in march expected
India about to ban cash
Chinese exchanges want to add trading fees
"Bitcoin Enthusiast Peter Thiel Joins Trump Transition Team"
Scaling progress: Segwit and Parallel Validation
Lightning Network ready (needs segwit)

In case of breaking down the channel, I would expect longer bearish cycle.

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daily cloud

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“Blockchain technology is an extinction event to traditional financial institutions. Like the dinosaurs, a few will survive by morphing into agile birds at a small fraction of their previous weight and size, but most will just die.”

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falkvinge.net/2017/01/26/impressions-satoshi-roundtable-iii/

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btc hit its first target for this long consolidation move, cant break the old ath here at this time.

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moneyandstate.com/the-true-cost-of-bitcoin-transactions/

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even if china isnt leading anymore, this chart still shows the importance of the old china ath keylevel

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something happening in china, charts catching up, 6% up already.
Seems like we break the old ATH line and have a large symmetrical triangle

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china catching up and going 5 digits with breaking the 10k cny and is now in uncharted territory

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Impressive! Upper channel target hit, breaking out the channel could cause a 2013 style bubble.

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with withdrawal enabled for chinese exchanges the volume is soaring and so is the price. China trying to reach a new all time high.

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Bitcoin hitting 30k cny is another milestone as the channel upper line has turned into support and triggered a launchpad.

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bumping this chart because its good to remember what happens after larges crashs: usually price ranges in the drop range for a while, most times it forms a triangle or another consolidation pattern within the range.