During the recent sideways price consolidation Bitcoin held support multiple times at the Lower Parallel of the longer term Schiff Modified (“SM”) Pitchfork (green ellipse) and is now challenging resistance at the Upper Parallel of longer term “SM” (heavy purple line) and shorter term Upper Parallel of the newly drawn short term “SM” Pitchfork (yellow circle). Both MACD and the confirming Fisher Transform (which did not mark a lower low when MACD did) are back above their signal lines and are tracking higher. Getting through current Pitchfork resistance Bitcoin will be targeting the all time highs.
Above there Bitcoin will be targeting the all-time highs and above 20,000 there are no more “bag holders” and nothing but blue sky. Price structure is still Uber Bullish.