In this video, we break down Bitcoin on the 4hr & 1hr 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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Bitcoin (BTC) surged past the major $80,000 psychological barrier today, May 4, 2026, reaching its highest level since late January. Change: Up roughly 2.3% – 3% in the last 24 hours.
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Bitcoin Insights Today
-Geopolitical Easing: The rally followed President Trump’s "Project Freedom" announcement. The U.S. will begin escorting commercial vessels through the Strait of Hormuz, easing fears of a full closure and sending oil prices lower.
-ETF Momentum: U.S. spot Bitcoin ETFs recorded their fifth consecutive week of positive inflows. Last week saw over $153 million in new institutional capital.
-Accumulation: Large "whale" wallets (holding 1,000+ BTC) added 270,000 BTC over the last 30 days, while exchange reserves dropped to a 7-year low.
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