2016

From the middle of September 2015 until May 2017, Bitcoin entered a long term trend that saw 689% gains in 88 weeks. This trend ended on May 8th when the price broke the upper resistance trend channel at $1615.

2017

Bitcoin blasts past $50,000 on it's first attempt and continues until nearing $64,000 at which point the price drops to between $45,000 to $50,000. $45,000 represents a 30% drop from $64,000.

The more likely and also more bullish scenario would be that Bitcoin would approach $50,000 but is unable to breach or maintain the price, it will then consolidate for the next push. The price will then rise 30% or greater than $50,000 ($72,000+) until a pullback where Bitcoin will back test $50,000 to form the new support.