- Following a strong, $3,000 rally, the bitcoin market has found itself consolidating in an aggressive bull pennant.
- The bull pennant is situated on top of macro resistance turned support and is also situated at the top of our macro supply demand channel. The fact that we are consolidating through the upper boundary of our channel combined with resistance turned support shows an overall strength in the demand-side of the market and an overall weakness of supply.
- The price target of this aggressive bull pennant would have the market testing the $15,000s and ultimately making a new high for the 2019 bull run.
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Aerospace engineer turned crypto-market analyst. Bitcoin Schmitcoin became popular within the subculture of the Reddit communities and now posts his daily thoughts and market outlook via Twitter and his regular stream on Twitch.tv.Bitcoin Schmitcoin on Twitch.tvBitcoin Schmitcoin: YouTube