The best way to interpret Bitcoin's price action is via the logarithmic chart which shows the overall square root function of each cycle. Simply put, realistically, the log chart is slowing down on the longer timescale, meaning that Bitcoin is now possibly entering its fourth phase as shown in the chart - price maturity. Price maturity is shown in most stock models, meaning that markets do not move in straight lines. This chart also helps support the 'lengthening market cycle' theory, which is based on how fast growth of a stock is shown. Bitcoin cannot just continue to grow exponentially. This would lead to incredibly inflated prices that brings Bitcoin into uncharted territories.
As stated above, the cause of these growth cycles are the Bitcoin halvings, which leads to a supply shock and a subsequent rally. As history has shown that with a lower supply, the demand for the coins go higher, meaning that the fundamental value of Bitcoin may go down, and now becomes more of a 'Store of Value' asset, just like gold . Although this chart is just an observation and educated guess, we can still assume that this chart is realistic and a probable scenario as it is calculated with a balance of market psychology, technicals, and overall market cycle theories.
Even the monthly chart can be seen as a minuscule timeframe and we have to take this day by day, timeframe by timeframe. We can most definitely see lower prices and from a longer perspective, anything below 100,000 USD is still considered a great buy for Bitcoin , as many will start to understand that Bitcoin is becoming an investment.
I believe in the medium term (a few weeks to a couple of months) price might correct lower due to a Bearish Harmonic Pattern forming.
Also, on a 1 hour timeframe there is a MACD divergence which indicates a correction might be on its way.
You can see my analysis here:
In the long run I agree with @XForceGlobal. Its a great analysis and very interesting!