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Bitcoin sets a bullish short-term sequence, targeting $68,200 to $72,700
Analysts cited an Elliott Wave structure that expects further upside as long as a key pivot near $57,576.4 holds, with a projected $68,200 to $72,700 zone where sellers could push back.
Action Forex said Bitcoin has formed a constructive short-term bullish Elliott Wave sequence dating back to the June 25, 2026 low, with the rally progressing through a zigzag pattern.
In its breakdown, wave (i) ended at $60,930, a corrective pullback in wave (ii) bottomed at $57,600, wave (iii) reached $64,017, and wave (iv) retraced to $61,047.53 before wave (v) extended to $64,735, completing a higher-degree wave ((a)).
The analysis then pointed to a correction in wave ((b)), described as an expanded flat, that ended at $61,286.25, and said price action breaking above the wave ((a)) termination point supports the bullish count.
For the next leg, the outlet projected wave ((c)) using Fibonacci extensions of wave ((a)), targeting a $68,200 to $72,700 range (the 100% to 161.8% extension zone), while noting the pivot at $57,576.4 as the near-term level that must hold for dips to be viewed as buyer opportunities.
Latest closeBitcoin $64,696.99 ▲4.0%