In this video I break down the current Bitcoin price action using Elliott Wave analysis to identify potential 1-2 setups on both daily and lower time frames. I examine how recent market movements could represent either a bullish continuation or a broader bearish corrective rally. Video by More Crypto Online.
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On July 18, 2026, Bitcoin (BTC) is trading around $64,059, consolidating its recovery after bouncing back from a multi-month low near $58,000 earlier this summer. The market cap of Bitcoin sits at $1.28 trillion, driving its overall crypto market dominance to 58.2%.
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Bitcoin Insights Today
-Whales Target $72,000 by Month-End - Derivatives traders are expressing strong bullish confidence through the options market. Over $2.5 billion in notional bitcoin call spreads have been bought on Deribit targeting a strike price of $72,000 by July 31. The strategic placement of these bets positions them to settle precisely two days after the Federal Reserve's critical July 29 interest rate decision.
-Persistent Macro Disconnect - Despite the recent relief rally, broader market sentiment remains anchored in "Extreme Fear" with the Crypto Fear & Greed Index lingering at a low score of 25. Financial analysts from CoinShares point out that while localized rebounds are healthy, a sustained macro breakout beyond $80,000 is highly unlikely without an official, definitive shift from the Federal Reserve toward monetary easing.
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