In this video I break down the latest Bitcoin price structure using Elliott Wave analysis to determine if we are near a bear market low. I share the key support and resistance levels to watch as we head into the new trading week and explain why the current consolidation might be part of a larger corrective pattern.
Beyond price action, I provide an on-chain analysis using the MVRV Z-Score to evaluate Bitcoin valuation relative to historical cycles. You will learn how to read this indicator to identify accumulation zones and what signals suggest we have more downside to navigate before a long-term bottom is confirmed. video by More Crypto Online.
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Bitcoin (BTC) is trading around $66,340 as of June 16, 2026, marking a strong two-week opening high following a critical risk-on relief rally. The digital currency briefly cleared local resistance to touch $67,236 earlier in the day before experiencing minor profit-taking and consolidating. This rebounds the token well above its severe early-June crash toward the $59,000 support floor.
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Bitcoin Insights Today
-U.S.–Iran Ceasefire Agreement: Sentiment flipped sharply positive following a preliminary 14-point peace memorandum of understanding signed between the U.S. and Iran. The deal includes plans to lift the naval blockade and reopen the Strait of Hormuz, driving global oil prices down and fueling a massive risk-on surge across tech equities and crypto.
-BOJ Interest Rate Hike: The Bank of Japan (BOJ) unexpectedly hiked its policy interest rate by 25 basis points to 1.0%—its highest level since 1995. While yen carry-trade unwinding usually crashes crypto, BTC shrugged off the news because the BOJ concurrently paused its bond-tapering schedule, capping long-term yields.
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-FOMC Commences Meeting: The Federal Reserve's two-day policy-setting meeting kicks off today. While a rate hold is 97.4% priced in, markets are anxiously waiting to hear the stance on inflation from new Fed Chair Kevin Warsh.
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