Bitcoin to $160,000 - What Has to Happen First
1 extracted signal · 0 resolved · 1 still active
More Crypto OnlineIndependent analyst profile- Source published
- 07 Sept 2026, 18:37 UTC
- Recorded by Tahlil Plus
- 07 Sept 2026, 19:50 UTC
AI-generated source summary
The analysis focuses on Bitcoin's long-term monthly chart. Despite recent price action, the bullish setup remains intact as Bitcoin has held above the 50-week SMA and tested a key support zone between $24,000 and $26,000 without breaking it. The current price action suggests a potential for a 5-wave upward move, with the first target being around $160,000. For this bullish scenario to be confirmed, Bitcoin needs to break above the $83,000 level, followed by a higher low pullback. The Bitcoin dominance chart also shows a sideways range, indicating that altcoins might start to outperform. However, the analysis emphasizes the importance of watching the $83,000 level and for a decisive 5-wave move upwards. A break below the $75,000 support level would invalidate the bullish outlook.
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