$BTC long term pattern. 1D candles log scale

BTC seems to be following a very solid long-term pattern on 1D log scale

1) Major drop from some sort of FUD (block size, China/Jamie, Roger Ver) and then bitcoin being bought up hard (1 big candle + consolidation + another green candle
2) Trading sideways for 1-2 weeks while people are still a little worried
3) 2-week upswing after confidence is restored
4) Sideways for 1-2 weeks bullish consolidating
5) An upswing after more of the public sees how high Bitcoin is (Likely last upswing was extended by Segwit anticipation)
6) Sideways or slightly down when rumors and initial FUD starts
7) Repeat

A rough estimate of where the next upswing could end is around $11,000 - $12,000 early January. This fits very well with the 1.618 fib level of the most recent uptrend.