- A $1,500 candle proved bullish resolve for the bitcoin price as the entire bearish drop that occured this week was engulfed.
- The market is currently testing a major level in the $8,800s and there is a potential short squeeze setup that could propel the market even further. There are a ton of stops built up over the last month that could take quite the beating if we break our range-high level.
- A short squeeze would have the market testing the next macro level in the mid-$9,000s.
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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