Bitcoin is trading up around $12k, but this may just be the beginning

I have be seeing and hearing some people talking about taking profits in bitcoin around this $12k level.

And sure, if you are a day trader or scalper, by all means, do your thing.

However, if you are in investor, you need to zoom out just a little

Here is the monthly chart of bitcoin:

As you can see we are just now breaking out of a rather large triangle pattern.

Considering that this is a monthly chart, we have several candles left to go, which means months and months before we ultimately peak.

The measured move on a break like this one says that the price should go up to around $30k or so.

I have heard a lot higher projections though, where do you think it goes?

Posted Using LeoFinance

Why you probably shouldn't take profits just yet