Bitcoin - bearish - Short Term

This is the trend that will close the month of October, based on price-correction after bitcoin broke the $6000 resistance. Also, as an extension of the parabolic pattern, that should skyrocket bitcoin to break $7000 high during the fork in mid November.

Commento:

The parabolic pattern was mentioned by other traders as well, and it is as follows:

chartpattern.com/ima.../parabolic_curve.gif

Note that base 4 is creating the short term bearish trend, since it has to pull back to get more bulls on board before the ultime skyrocket.

Commento:

it broke the pattern then broke major resistance at 5800, which means it will continue going up today to the next psychological resistance 6000.