Let's consider only the odd positive integers in the Collatz conjecture. If the conjecture is true, they'd form a directed graph pointing to 1, which points to itself.
The next odd number in the graph, the "parent", is written: $$P(n)=\frac{3n+1}{2^a}:a\in\mathbb{N^*}\tag3$$
EDIT: If you had a generalized formula for the $k$th parent of $n$, $P^k(n)$, would it be sufficient to prove there are no cycles in the Collatz conjecture if you could show that there are no positive integer solutions for $P^k(n_0)=n_0$ for all $k$?
I think a general form can be written for the real solutions of $P^k(n_0)=n_0$, the $k$-th parent of $n$: $$P^k(n_0) = \cfrac{1+3\cdot\cfrac{1+3\cdot\cfrac{1+3(\dotsb)\textbf{}}{2^{a_{k-2}}}}{2^{a_{k-1}}}}{2^{a_k}}\tag6$$ If there are cycles in the Collatz, then there must be some $n_0$ such that $P^k(n_0)=n_0$. The real solutions to the parent equation take the form: $$A_k \equiv \sum_{i=1}^{k}a_i\tag7$$ $$B_k \equiv \sum_{i=1}^{k} 3^{i-1}\cdot2^{A_{k-i}}\tag8$$ $$n_0 = P^k(n_0) = \frac{B_k}{2^{A_k}-3^k}\tag9$$ We can utilize the condition that $\{n_0, k, a_i\}$ must be positive integers to get some important information about this function. First, the numerator is positive by definition, so for $n_0$ to be positive, it must be the case that $2^{A_k}>3^k$. We know that $A_k \geq k$ since each parent is the result of at least one divide by two operation, so we can rewrite $A_k$ in terms of $k$ and some leftover term $m$: $$A_k=k+m\tag{10}$$ This yields the inequality relating $m$ to $k$: $$\frac{2^{k+m}}{3^k} > 1\tag{11}$$ $$m>k\cdot log_2\left(\frac{3}{2}\right)\tag{12}$$
If there are no positive integer solutions for $m$ given a $k$, $P^k(n_0)\neq n_0$.
Would this be a valid approach to proving there are no cycles in the Collatz conjecture?
If you look at the binary representation of an odd number starting from the least significant bit you can find only three cases:
a) $ \quad \cdots$ 011, $ \quad \cdots$ 0111, $ \quad \cdots$ 01111, $ \quad \dots \quad $
b) $ \quad \cdots$ 1101, $ \quad \cdots$ 110101 , $ \quad \cdots$ 11010101, $ \quad \dots \quad $
c) $ \quad \cdots$ 001, $ \quad \cdots$ 00101, $ \quad \cdots$ 0010101 , $ \quad \dots$
with which it is possible to determine the value of $ \quad n \pmod {2^{c+1}}$
a) $ \quad 3 ,\quad 7 ,\quad 15 , \quad \dots , \quad 2^c-1 \quad \text{ with } \quad c>1$
b) $ \quad 13 , \quad 53 , \quad 213 , \quad \dots , \quad (5 \cdot 2^c-1)/3 \quad \text{ with } \quad c=2 \cdot b +1 \quad,\quad b>0$
c) $ \quad 1 ,\quad 5 , \quad 21 , \quad \dots , \quad ( 2^c-1)/3 \quad \text{ with } \quad c=2 \cdot b \quad,\quad b>0$
From this you can derive a cyclic graph based on the value of $ \quad n \pmod {2^{c+1}}\quad $ which can help you better visualize the sequence of odd numbers.
edit: I had forgotten, in answer to question Q1, as can be seen from the formulas, only numbers $\pm 1 \pmod 3$ are obtained.
Note: in case a) a further simplification has been made using a property of the Syracuse_function: $f^{p-1}(2^p \cdot h-1)=2 \cdot 3^{p-1}\cdot h -1.$