|

Bitcoin short term bullish sequence targets $68.200 [Video]

The short‑term Elliott Wave outlook for Bitcoin (BTCUSD) indicates that the cryptocurrency has established a constructive bullish sequence from the June 25, 2026 low. From that level, the rally unfolded in the form of a zigzag structure. Within this advance, wave (i) terminated at $60,930, followed by a corrective pullback in wave (ii) that ended at $57,600. Momentum then carried the market higher, with wave (iii) reaching $64,017 before a modest retracement in wave (iv) concluded at $61,047.53. The final leg, wave (v), extended to $64,735, thereby completing wave ((a)) of a higher degree.

Subsequently, the market entered a corrective phase in wave ((b)), which unfolded as an expanded flat. This correction ended at $61,286.25. Importantly, price action has broken above the termination point of wave ((a)), thereby confirming the presence of a bullish sequence. The next target lies in wave ((c)), which can be projected using the Fibonacci extension of wave ((a)). The 100% to 161.8% extension range defines the potential zone between $68,200 and $72,700. This area represents a region where sellers may attempt to reassert control.

In the near term, as long as the pivot at $57,576.4 remains intact, dips are expected to attract buyers. The corrective pullbacks should unfold in either three or seven swings, offering opportunities for continuation higher. This structure underscores the resilience of the current rally and highlights the potential for further upside before any significant reversal develops. The Elliott Wave framework continues to favor strength while the key pivot holds, reinforcing the bullish bias in the short‑term cycle.

Bitcoin 60-minute Elliott Wave chart

Bitcoin Elliott Wave [Video]

Youtube preview

Author

Elliott Wave Forecast Team

Elliott Wave Forecast Team

ElliottWave-Forecast.com

More from Elliott Wave Forecast Team
Share:

Editor's Picks

Bitcoin Weekly Forecast: Gearing up for a sharp move

Bitcoin is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC ETFs on track to record a third straight week of inflows.

Crypto Today: Bitcoin, Ethereum, XRP recovery takes a breather amid capital inflows

Cryptocurrency prices are generally taking a breather at the time of writing on Friday, with Bitcoin (BTC) edging lower toward $80,000. This correction follows the sharp move to highs at $81,269 the previous day, underpinning renewed investor appetite.

Pi Network reclaims 50-day EMA as overhead resistance looms near $0.10

Pi Network (PI) edges lower on Friday, holding steady above its 50-day Exponential Moving Average (EMA) around $0.09388 after four consecutive days of recovery. PI token gains mild social dominance amid improving risk appetite in the broader crypto market.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue.

Bitcoin: Billions in ETF inflows push BTC toward decisive breakout
Bitcoin (BTC) extends gains so far this week, trading near $80,000 after testing the 50-week Simple Moving Average (SMA) at $81,114 earlier. Strong institutional demand is supporting the rally, with spot BTC Exchange Traded Funds (ETFs) on track to record a second consecutive week of billion-dollar inflows.