The next leg up is coming

The bull market of 2021 wasn't really much of a bull market.

The price of bitcoin basically went sideways for much of the year.

Check it out:

(Source: https://twitter.com/TechDev_52/status/1492199192978239498/photo/1)

Zooming out and looking at the charts like the one above we can see that the price is simply still working off the gains from the big move up in late 2020 and early 2021.

It's been a year of consolidation.

The good news is that the consolidation is likely to end shortly.

Based on the above charts, it looks like bitcoin is going to move up and out of this consolidation this year or early next.