Bitcoin has been consolidating for the last couple weeks, but a breakout is coming shortly

After a couple weeks of consolidating that big move up, bitcoin is getting ready to make a big move again.

The only question is whether that move will be up or down?

JPMorgan seems to think it will be down as I mentioned yesterday.

But also as I mentioned, they are wrong quite a bit, especially with bitcoin.

I think the most likely move is a breakout to the upside:

With a symmetrical triangle like this after a big move up, the odds favor a continuation of the bull market.

Even if we were to break out to the downside, it would likely be a bear trap.

Something like a dip down to $32k or something then a rocket back up over $38k and off to the races.

We probably have a couple more days of chop is all, then we are going to start moving again.

Time to get your popcorn ready, it's about to get exciting again.

Bitcoin Breakout Imminent