What does he mean by cool it for a while and take a break?

He is playing games with you and he will continue as long as you let him do it. Put it straight to him, if a relationship is what you are looking for tell him, if he isn't ready for it, tell him its time to bounce. Don't waste your time or your heart on someone who is going to play with your emotions. Trust me, from experience, it isn't worth the heart ache in the end.