Bitcoin Breaks Triangle. Will Price Shoot for Moon, or Ricochet Down?

Bitcoin has been forming a triangle pattern for the past 2 days, and has now broken out of that pattern by a healthy amount.

while I am skeptical this will be a big run, I do see this as a sign that the Bulls are determined to trample the institutional market movers that want control.

Here is a live chart to keep track of Bitcoin's progress. The red and blue dashed lines are just my own gut feeling coming into new year (drawn a day ago), but the volatility of Bitcoin is enough to shake weak hands.

Remember to buy the blood and take your profits a little bit at a time. Don't dump Bitcoin, whatever you do, because you may regret it for a long time.

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