On the monthly chart bitcoin -3.94% broke through the $6000 support after 10 months of consolidation in a descending triangle , exactly what happened in 2014. If this pattern repeats, which it is, starting off with a small 22% drop, and resting, it should continue down to a full 50% correction forming a bottom at $3000 between January-August of 2019, as it has done in Jan-August of 2015. This would then start a bull run in a neat channel lasting into January of 2020 all the way back up to $20,000, before breaking all time highs and shooting out to $400,000 as the price makes another 2000% gains during the course of 2020. We'll see if the pattern repeats for a third time. out of experience they only happen twice.
Comment:
The last wave up should be to 400 000 and not 4 000 000. My mistake
Comment:
and we could see the price wick down to 1300 if we bounce around on 3000 for too long.