The short term gyrations still look like a small dip then further upside is needed, but the larger picture ideas look like they could be close to a major peak and the end to a large impulse wave from 2015 lows. Sentiment is nuts, my spam box is all about trading bitcoin and cryptos. Brokers want in and looking for people to open accounts to trade bitcoin , that sort of stuff is seen right near major peaks.
DYOR I could be totally wrong and it goes to 20K, but if its near a major peak, the bears are coming out to play soon
http://www.zerohedge.com/news/2017-11-02/coinbase-adds-record-100000-bitcoin-traders-one-day The frenzy is real