Understanding the wave structure of the BTCUSD requires moving to the logarithmic scale. That in itself, can either be an very positive or dangerous omen. "Pump and dumps" usually see exponential price rise only to end up going through an even quicker fall. So is the Bitcoin a formidable success story or one of the "pump and dump" of the currency market? Up to you to make up your mind...
All I can see is that the wave count does show that we could be nearing the end of this aggressive impulse wave. A 5-count on the weekly chart with an multiple RSI divergence with a wave 5 extending beyond the wave channel is a good combo to suggest an overbought setting. It would be unreasonable to expect to catch the top though so it is all about waiting for the right Selling opportunity...
All I can see is that the wave count does show that we could be nearing the end of this aggressive impulse wave. A 5-count on the weekly chart with an multiple RSI divergence with a wave 5 extending beyond the wave channel is a good combo to suggest an overbought setting. It would be unreasonable to expect to catch the top though so it is all about waiting for the right Selling opportunity...