For this analysis of Bitcoin I based my chart on the Support and Resistance lines of Bitcoin of the last 9 months.
on Bitstamp, Bitcoin fell from its ATH of 19666 to the 6K level and then rebounced to the 12K level and then came back down without really touching it.
On the 3K level we already saw a very beautiful Resistance that became Support during the last Bull Run (June-September).
Obviously the pattern becomes clear and 3K - 6K - 12K levels are doubling levels with significance without question. So I decided to extrapolate this scheme upwards and downwards.
10 doublings starting with 1 gives us 1024K, which means a series of 10 doublings is the same as a 1000-fold increase.
This gives us roughly this series that I put on the chart:
I also put the 2 most important ascending Support/Resistance lines from 2011-2018 on the chart, as well as 4 vertical lines coinciding with the most important Highs and Lows with the latest Low projected in January 2019.
The last BullRun started around the 182 level in late August 2015 and went al the way up to 19.666, meaning a 100-fold increase from bottom to top.
If this scenario repeats itself, we can expect a Bear Market for the rest of the year with a possible Spike down to the 2K level around the end of the year. For 2019 we could expect Bitcoin to move sideways between the 3K and 6K level during Q1 and Q2, while Q3 would mark the start of a new Bull Run to the 200K-300K level by the end of 2020.
By then Bitcoin will probably "Back" and its fundamental problems of durability, sustainability, transaction fees and times finally solved.
Until then it's up to the traders and hodlers to move wisely.
