In this video I break down the latest Bitcoin price action to determine if we are seeing a major bottom or just a temporary bounce. I analyze the current market structure using the Elliott Wave model to identify the key support and resistance zones that will dictate the direction of the market for the coming week. Video by More Crypto Online.
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Bitcoin (BTC) is trading at $64,760.66 (approximately €55,846.95), marking a subtle intraday gain of 0.58%. The digital asset continues to consolidate tightly as macro drivers tightly control market direction.
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Bitcoin Insights Today
-Macro Environment: Easing geopolitical concerns over Middle Eastern oil routes and softer economic data have helped stabilize risk sentiment.
-Upcoming Catalysts: Traders are closely watching upcoming U.S. nonfarm payrolls and employment data, which will dictate short-term Treasury yield and dollar movements.
-Technical Outlook: BTC is maintaining position above short-term moving averages, though analysts note it needs sustained high-volume spot buying to break past immediate resistance near $65,000.
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