It's unlikely Bitcoin will spend very long up here near the ATH 2.59% . The 235 day cycle is coming and is in range currently on the 16th, so if bitcoin will get a reversal it will be here.
However, if we see extended consolidation up here in this range below but near the ATH 2.59% , it shows weakness in sellers. Similar to December 2012, September 2013 and March\April\May 2016. It could spend many weeks there if it is a bullish resolution before breaking out.
Time will tell what the resolution is, but this will be a big one boys.
Continuing my usual trend of generating ideas where it can go either up, or down, so I can always look back in hindsight and say I was right :). Cheers all