This is a monthly logarithmic chart of Bitcoin going back to April, 2014. If you look at the run up in 2014, there was a similar skyrocket up near the end of 2014, which the bubble ultimately burst bottomed out around the 0.78 Fib line. Looking at 2017, using the same time frame (around a 5 month run up), we can see that if chart patterns mean anything and history repeats itself, if Bitcoin bottoms out near the 0.78 Fib line again using 2017 numbers, it would need to fall all the way to $6,000 before continuing up again.
Comment:
Bitcoin hit target of $6,000 and rebounded.