noob here. BTC has been trading sideways for 3 months now; after the elon tweet, its' struggling to get above 50K.
Is their another run up or have we peaked alreay?
Those 3 months were not a "sideways" movement. From March up to May, Bitcoin has been gradually increasing. Though there are always a market correction from time to time after a good bounce, which is more likely what's happening with Btc's price today.
Nobody could really give you a definite answer, because nobody knows what figure Bitcoin would peak before the bear takes over the market.
Yeah, I also don't see it as "sideways" movement, actually if you extend it to January to May, there's no such pattern, bitcoin will go down and then go back up again, rinse and repeat. So we can't say if we have peaked already as we all know that the price is very volatile. Right now we can say that we are in bearish scenario, but what if the price bounce back in the next three months? Their is no really an answer until we see what will be the price at the end of the year.