BTC/USD is displaying an Elliott Wave bullish sequence, which keeps on growing in duration and time. Because of this, it will be hard to believe that a major bearish leg would be seen, one that would change the destined direction.
BTC/USD - Weekly Chart
BTC/USD (weekly) has been labeled within a Super-Cycle Degree wave (III) (turquoise), mid-point development. Super-Cycle Wave (II) (turquoise) has reached its bottom during Dec 2018, unleashing the Crypto Bull Market.
Cycle I (black) Structure - Bullish Impulse Dec 2018 bottoms and up towards June 2019 peaks. Cycle II (black) Structure - Triple Flat Correction June 2019 peaks until March 2020 support. Cycle III (black) Sequence - Bullish Impulse Break-out and confirmation of a bullish sequence. Current Position - Intermediate (4) (green) Consolidation and Point of Interest. Next expected swing Bullish Impulse, with a rally in the Intermediate (5) (green). Levels in focus: $18500. Targets: $23500-25000.