BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I think this chart is as clear as can be. We have been in an EXTREMELY well defined channel for all of 2017. 5 near perfect hits of the top trend line and a very clear EW impulse pattern. If a lot of people consider Bitcoin to be a commodity (not that I agree), the 5th wave being the longest has a lot of historical precedent.

Add to this, the gentle downtrend in the RSI and the fact that every higher high and higher low in Bitcoin has been accompanied by a lower high and lower low on the RSI . I believe this negative divergence lends credibility to the idea that we are about to hit the 5th wave top and have a major correction that breaks the lower trend line .

There are no guarantees in life or Bitcoin so I will be trading this solely based on how the reality evolves with relation to these trends. If I were a betting man (and I am), I would call for 2 more touches of the top trend line (for a total of 7), by Nov 16 followed by a frantic fall to the lower trend line , bounce off it before falling through it (maybe stopping right above 3000).
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