BTCUSD bullish pennant to $12500

Looks like BTC might be in the process of forming a bullish pennant.

The pole was the move from $7500 to $10600, which bounced off the 50% fib retracement of the trend from 14K down to $7300.

If this forms into a bullish pennant and we make the second move to the upside, it you should take us to the $12500 area, which coincides with the 78,6% fib retracement with trend from 14k.