Two parabolic breakouts on the LOG chart created two subsequent bubbles in 2017. Bitcoin went up by two orders on magnitude in this cycle, from $200 to $20,000. The second bubble stage has been corrected in 2018, but the first one has not. Once this bounce tops out between $6.5k and $7.5k, we'll likely see another correction of the first bubble stage, with a price target in the low $1000 area. Then the cycle has completed.