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Bitcoin Consolidation Before Another Breakout!!!

Bitcoin broke out past the extension level at 48.2K, and hit just shy of our next target at 49.6K. It is likely that it will build another consolidation pattern before breaking out again. Watch for it to fill out the range between 45.6K and 48.2K or 49.6K. It looks like we may be in the midst of forming a bull wedge pattern, which should complete by the end of the weekend. Consolidation is likely since the Kovach OBV has plateaued. Our next target is 52.8K

quantguy

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