I wouldn't expect a serious several thousand dollar pump soon, but it does look like we are getting to the point where bitcoin will slowly start turning around soon.
As long as it doesn't break below the ~$6000 support line that has held multiple times all year, which would signal a longer bear market - and this seems extremely unlikely, then I think the for the rest of this year we'll see a slow turnaround and finally be at the start of the next long bull market by the end of this year.
I'd expect Bitcoin to stay in the 6 and 7 thousands for a bit longer but in December I think it'll be pushing back through the 8000s, signaling a clear beginning of a new bull market as so far this year every temporary high has been lower than the last, with the latest one being around $7400, so a break above that will likely signal we are in bull market. If crypto was still as small as it was a few years ago I would say maybe it would take a few more months for the momentum to shift and we'd hang around 6000s and low 7000s for a while, but there is just too much interest and media attention on Bitcoin these days for this bottom to hold for several months. In the future we'll probably look back on this as September and October being the end of the bear market and see a slow rough ride up starting in November. Apparently the parent company of NYSE is opening up a crypto trading desk or exchange or something in November, maybe that will be the catalyst that sparks the next rise that breaks the bear pattern of lower highs. Regardless these next few months should prove to be the turnaround.
Check out the BTC chart below, it looks clear that we are coming up on a momentum shift, likely over the course of next few months.
