Since 2018 Bitcoin and other cryptos were mostly consolidating through summer before they eventually broke out, in September or October.

Looking at the monthly cycle period chart of Bitcoin with ticker BTCUSD, we still see it in the middle of a 35 months of bullish cycle, so there's still plenty of time for bulls to extend higher, ideally till 2025.

If we take a look at BTCUSD chart from Elliott wave perspective, we can actually still see it in a five-wave bullish cycle within higher degree wave (V). Notice that final subwave V can be still missing, so after current wave IV correction that can take even more time through the summer, watch out for a bullish resumption within wave V of (V) at the end of the year.

For a detailed view and more analysis like this, you may want to watch below our recording of a live webinar streamed today on June 24 2024:

Video Length: 00:34:23

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