We saw a bearish correction in the main cryptocurrencies yesterday. $BTCUSD has been held up around 5800 and retreated sharply during the 10/18 session. It almost came down to 5100 before a sharp rebound that maintained BTCUSD's bullish momentum. BTCUSD 4H Chart(click to enlarge)Bullish Momentum:- Note that since September, the RSI has held above 40 and been able to push above 70.- This reflects maintenance of the bullish momentum, which was evident during the 10/18 session as well. - Basically, this tells us the market still has bullish bias - that bears are weak.- Now, a clear break above 5800 should send BTCUSD to 6000 and possibly even higher. Then who knows. This is an unprecedented moment in human history. For now, the chart shows us a market that is in a strong bullish trend. To me, there's no sign of bitcoin being over-priced or under-priced. There is only momentum.Anticipating the Fork:The choppiness is likely due to the upcoming Bitcoin "Hard Fork". This is a split in the code that will result in a "new currency" that shares the history of the "legacy" bitcoin. This is a hard fork because the bitcoin community does not have complete consensus on the new code, which is suppose to help BTC scale up. Essentially, some bitcoin holders might get free money from this fork. But really, no one knows what will happen, except that the previous fork did result in "free money". In fact the recent rally in Bitcoin can be attributed to anticipation of the fork. Now that price is just under 6000, the market is probably more cautious. So, at the end of the day, if the fork goes without a hitch, we can see BTCUSD push above $6000. But don't discount the maxim, "buy the rumor, sell the news". With bitcoin in such a strong rally ahead of the anticipated fork, I would say this scenario is very likely.