During 2015 the 0 - 0.236 Fibonacci band was used as a Support.
Similarly in 2016 the 0.236 - 0.5 was the Transition Phase from the Bottom to the start of the new Bull Market, leading to then Band (0.5 - 0.786). As Bitcoin's historic price action has shown, every such bull market peaks on a Parabolic move (0.786 - 1.414).
Assuming that the 420 day bear cycle has come to an end on a near -85% price loss, then the support band has moved higher by 0.5 Fibonacci points. This should technically shift the other bands higher by a proportional rate (if all fibonacci levels were illustrated on the chart, it would be hard to read).
What's fascinating is where this sequence places the next Parabolic Band. That's within the 1.618 - 2 levels, which on rough estimates translates in a 100000 - 1500000 valuation on the next peak.
By all means this is an analysis based on that specific set of technical tools. Any attempt to tackle this with other technical evidence on the comments section is very welcome.
Other useful material on BTCUSD long term projection:
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BTW, Hope we can all see $120,000 . Finger crossed. You did a great analysis.