Bullish scenarios for current cycle presented below:
Scenario 1 (optimistic):
price 20k USD around September 2019
bubble top 300k USD around December 2021
Scenario 2 (neutral):
price 20k USD around September 2020
bubble top 100k USD around December 2021
Scenario 3 (pessimistic):
price 20k USD around September 2021
bubble top 30k USD around December ...
The scenario is based on parabolic curves and similarities with previous big correction in 2014.
We might get nice buy opportunity in upcoming months (around 5k) or we slowly go up forming a cup and handle pattern.
In the end, if a new parabolic move is formed, we might eventually get to 100k in 2020.
Elliott waves are also nicely fitting into the picture.
The first drop is almost identical (~64%).
Stoch RSI and RSI are on same levels as in 2014 (orange circle).
Trading volume decreases.
2 potential reversal points: 4800 and 3000.
It might also reverse earlier as market and adoption are greatly more significant than in 2014.
On the weekly chart, it looks bullish to me (stoch RSI, Eliott waves, RSI)
On the daily chart, the price seems to be in the overbought area though - maybe first it gets a bit lower before the significant move up. On the other hand, rising triangle seems to be broken up, which is a bullish indicator.
If we break up bullish flag like previously, then we might achieve previous ATH (T1) followed by flag range target (T2).
Ultimatelly, after period of consolidation, like previously, we might go up to T3.