BTC/USD (daily) has been labeled within a Cycle Degree wave (III) (black), late stages of development. Primary 5 (green) would be expected to finalize with the next expected bullish swing, and could also present an extension. The Elliott Wave Channel empowers more gains ahead, and also signals the fact that Intermediate (5) (green) could be commencing along with a break-out.
BTC/USD - Daily Chart
Primary 1 (blue) Structure - Impulse 5-Swings Sequence in an impulsive manner, the breaking point. Intermediate (2) (blue) - Zig-Zag Corrective Structure, Retest & Support. Intermediate (3) (green) - Impulse - Termination Points Bullish Rally, presenting an Extension. The Elliott Wave Channel points towards more up-side. Intermediate (4) (green) - Running Contracting Triangle Sideways Correction points towards a break-out pending. Levels in Focus: $18500