Consolidation before breakout?

Morning folks,

Last time we've talked that butterfly on daily chart will be the best choice for BTC to complete major 21070$ target. But, market has chosen worse scenario instead, trying to break the top immediately. As a result, it stuck with daily overbought area and stopped at the current levels.

Still, current price action is not the fake breakout that suggests deeper downside action. Instead of that we see triangle consolidation right around previous top. It means that BTC is building an energy for breakout and once overbought pressure becomes weaker, we should see another leg up, despite whether it will be just wash&rinse of previous top and stop grabbing or real upside breakout.

We suggest no meaningful retracement should happen until BTC hits our target.

And the last one - keep an eye on US Presidency turmoil. It seems that something is going on under curtain as D. Trump contesting activity comes on new levels. We will not be surprised if he announces emergency regime. Just control this topic... BTC could be in the center of this event as in recent time it is more gravitated to safe haven features, rather then stock market.