Why you probably shouldn't take profits just yet by jondoe

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hive-167922 · @jondoe · Aug 10 '20

$7.50

Why you probably shouldn't take profits just yet

# 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:

![](https://images.hive.blog/DQmUKCvph918wQTaaHSddeh4juHe1dLDRoSL95wME2oVy21/image.png)

(Source: https://twitter.com/RaoulGMI/status/1292829811526828032/photo/1)

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](https://leofinance.io/@jondoe/why-you-probably-shouldn-t-take-profits-just-yet)

👍 jrcornel, brian.rrr, bigram13, leo.voter, created, xxxxxxxxxx, stayoutoftherz, cryptoknight12, livingfree, planter, d-pend, jondoe, onealfa.leo, payroll, warnas, new-steemit, justineh, solominer, scaredycatguide, bastter, chasmic-cosm, apoloo1, dpend.active, suonghuynh, corndog54, cardboard, reward.app, amico, pixelfan, leofinance, gadrian, sketching, javb, onyechi, investprosper, pataty69, flauwy, megavest, mtl1979, dmwh, kaniz, snoochieboochies, unconditionalove, yameen, tariqul.bibm, sumatranate.leo, folklure, mcoinz79, papadimos, oldtimer.leo, pedromonteiro, engrsayful, paragism, konda, sweet-memory, llfarms, steem-key, deflacion, pfdm, emekasegun, ldp, apofis, dtrade, infinite-love, and 16 others

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@cryptoknight12 · Aug 10 '20

I think most top alts have a ways to go still if we're looking at a true bull run, I think that's where we are going too

Posted Using [LeoFinance](https://leofinance.io/@cryptoknight12/qev1vh)

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@jondoe · Aug 12 '20

Yep they would go up a ton still.

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@steem-key · Aug 10 '20

220 000$ )

Posted Using [LeoFinance](https://leofinance.io/@steem-key/qev125)

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@jondoe · Aug 12 '20

Price target?

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@steem-key · Aug 12 '20

yes

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