In this video, we break down Bitcoin on the 15m charts using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch.
Video by Koenz Trading.
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As of March 6, 2026, Bitcoin (BTC) is trading at approximately $70,526, representing a roughly 2.8% decline over the last 24 hours. Despite this intraday dip, the asset remains on track for a 7% weekly gain.
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Bitcoin Insights Today
-Macroeconomic Caution: Investors are trimming risk exposure ahead of the U.S. Non-Farm Payrolls (NFP) report. Strong jobs data could lead the Federal Reserve to keep interest rates elevated, strengthening the USD and dampening enthusiasm for non-yielding assets like Bitcoin.
-Geopolitical Tension: Ongoing conflict in the Middle East has driven WTI crude oil to $83 per barrel. Concerns about energy-driven inflation are complicating the global interest rate outlook.
-Institutional Outflows: Spot Bitcoin ETFs recorded significant net outflows of $227.9 million on March 5, contributing to the current "Fear" sentiment in the market.
-Technical Resistance: BTC recently faced a sharp rejection at the $73,554 resistance level, where sell-side liquidity was saturated.
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