Bitcoin Resistance & Next Move | Elliott Wave Analysis
1 extracted signal · 0 resolved · 1 still active
More Crypto Online29 Jul 2026, 00:45 UTC
AI-generated source summary
The analysis suggests that Bitcoin (BTCUSDT) is currently testing the Fibonacci resistance area between $66,230 and $76,630. Despite the recent bounce, which is interpreted as a potential Wave 2 corrective rally in a larger downtrend from an Elliott Wave perspective, there is a possibility for the price to extend slightly higher to the $69,000-$72,000 range. After this potential three-wave move up, the expectation is for the next five-wave decline. The current price is estimated around $65,000, with a target of $72,000 and a failure bound below $62,000, which would invalidate the bullish short-term outlook and confirm further downside.
AI-generated summary based on the source content.
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