Triangle - Break-out or Bear

It looks like Bitcoin is forming a triangle. Volumes are declining and prices are bouncing within the trend lines. 

Breakout

If BTC breaks out, a strong resistance line should form at the 61.8% line from the top wave at $16780. Buying below this value is risky. If this resistance doesn't hold, BTC should have a good run up to the all-time high of $19900. Good buying opportunity and profit taking keeping an eye on what's going to happen next.

Bear

If BTC crosses the lower trend line, our next strong support line is at $10950. If that support line doesn't hold, there's a good potential it will turn into a bear market and drop all the way down to possibly the $8000 range.

DISCLAIMER:

I'm not a financial advisor. I'm just sharing my thoughts from the way I see the market. Your trades are your own responsibilities. Always trade responsibly and only money you can afford to lose.