BITCOIN Makes Bull Break!!! Bulls Favored To Follow Through For Rally

We have liftoff!! This is exactly what we were hoping for!! We got tighter to convergence of these lines during consolidation and now the bulls have stepped in and realized that this is their time! I definitely expect this to be a heavy indicator that longer term bullish action will play out over the next couple weeks or more.

We have a nice looking bull bar on the breakout with volume, and we also see follow through! The main thing we didn't want to see happen is a bull break with no follow through or confirmation, then have the bulls give up easily and have bears shoot prices down into the ground.

One of the great things about this breakout too is that prices have already started breaking two of the last three highs of consolidation prices. This all happened in the first two hours of breakout, and likely we will see the third one get topped before too long.

Shorter term volumes are fading since a lot of people got in on the break. We will likely see a short bear flag on the 5 and 15-minute charts. This consolidation will look normal on these charts after a big break and oversold conditions, but this is definitely looking like the start of a nice longer rally to bounce up and test the higher trend line resistances.

Will post an update later in the day when we see more info from the breakout. So far, it's a great day for the bulls! Cheers!!!!!