I'm no chartist, but this looks like a clean breakout on the daily chart

Bitcoin had been consolidating for several weeks now after hitting $42k about a month ago.

The price dropped all the way to $29k and has been trading between those two numbers ever since.

However, that may about to change.

Looking at the daily chart and I see a full fledged breakout from a consolidation period.

What about you?

(Source: https://www.coindesk.com/first-mover-dorsey-bitcoin-doge)

While the news flow has been mostly good, there has been a few negative headlines out there as well.

From India trying to ban bitcoin and crypto again?! And now it looks like Nigeria is following suite by order their commercial banks to close crypto exchange accounts.

Not what I wanted to hear but it is what it is and the markets are shrugging it off at this point.

It is helping that Jack Dorsey has gone full bitcoin and is now running his own bitcoin node, posting a picture of it on his twitter today:

(Source:

https://twitter.com/jack/status/1357588751757627393

- jack

If Michael Saylor is my hero, Jack Dorsey is right behind, though I wasn't a fan of all that political censoring and banning garbage a few weeks back. When he's focused on bitcoin, he's my boy.

I don't expect bitcoin to make new highs for a few more weeks, but things look really good for it to keep pushing higher.

Another stimulus plan may do the trick, which is looking more and more likely by the day!