The short-term Elliott Wave analysis for Bitcoin (BTCUSD) suggests a bullish sequence emerging from the June 25, 2026 low. The upward movement followed a zigzag pattern, with wave (i) peaking at $60,930, succeeded by a corrective wave (ii) that dipped to $57,600. Wave (iii) then surged to $64,017, followed by a minor retracement in wave (iv) ending at $61,047.53. Wave (v) concluded at $64,735, completing the higher-degree wave ((a)).
The market subsequently entered a corrective phase in wave ((b)), characterized as an expanded flat, which bottomed at $61,286.25. A decisive break above the wave ((a)) termination point confirms the bullish momentum, with wave ((c)) targeting the Fibonacci extension range of 100% to 161.8%, projecting a potential zone of $68,200 to $72,700. This level may attract selling pressure as a critical resistance area.
Near-term support remains anchored at $57,576.4, with dips anticipated to draw buyer interest. Corrective phases are likely to develop in three or seven-wave structures, maintaining the rally’s upward trajectory. The Elliott Wave framework sustains a bullish bias while the key pivot holds, signaling potential for further gains before a meaningful reversal. The analysis underscores the market’s resilience in the short-term cycle.
Bitcoin (BTCUSD) 60-Minute Elliott Wave Chart
