MidasTouchConsulting

Bitcoin - finally the massive long expected breakout

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Since the top in early November at $500  Bitcoin             has been in a large consolidation. I have often written about this rising triangle formation and the massive potential. Now the breakout has finally happened and the price for one Bitcoin             surged fast and furious to nearly $600. Our position is nicely up and we just have to let our winnings run. Of course, Bitcoin             is short-term overbought and it is not wise to chase the cryptocurrency here. We might get a pullback in the next couple of weeks or months which could lead to a test of the breakout level around $480-$500. Should we get such a pullback you should add to your positions or start buying bitcoins              for the first time.
Good advice.
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