bitcoin broke parabola and then rejected off it

bitcoin broke parabola and then rejected off it

Bitcoin / U.S. dollar BITSTAMP:BTCUSD


Long term trend is still very bullish . However on a shorter timeframe that can evolve over a few weeks, I’m expecting a move up perhaps to ~12.4k and then slow grind down to test $10k and possibly as low as $8500, but I don’t see yet why we would wick anywhere below $7k best case as the purple value line sits below around $8k.