Bitcoin is going to emerge from consolidation in the not too distant future, where does it go?

Bitcoin isn't going to consolidate forever.

It's going to either break up and out or down and below.

My guess, considering we are in a bull market, the resolution will be up and out.

Something like this:

(Source: https://twitter.com/tempting_beef/status/1398317261149159430/photo/2)

The bad news with this model is that it shows a retest of those lows.

I'm not sure about you, but I certainly don't want to see bitcoin at $30k again.

The price action lately doesn't rule that out though.

If we can break and hold above $40k, I'd feel confident saying that $30k was the low.

However, we are not there yet and a break to $30k is probably just as likely, if not more likely, than a move over $40k in the near term.

Get your dry powder ready...