In this video, we break down Bitcoin on the 1hr & Daily chart 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 $85,000 today, September 21, 2026, hitting an intra-day peak of $85,257 before stabilizing near $84,700. This powerful 5.3% single-day rally marks Bitcoin's highest level in nearly eight months (since late January 2026). Institutional buying, shifting technical structures, and broader global macro conditions have collectively triggered a strong upward momentum.
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Bitcoin Insights Today
-The 45-Week Technical Breakout: Bitcoin closed the previous week at $81,159, marking its first week finishing above the 50-week moving average ($78,786) in 45 weeks. This critical technical victory prompted trend-following algorithms and institutional desks to flip aggressively long.
-The Massive Short Squeeze: The swift move above $81,000 caught bearish traders off guard, sparking a swift $300 million short squeeze within an hour that heavily accelerated the drive toward $85,000.
-Collapsing Oil Prices and Risk-On Sentiment: Brent crude futures fell for a fourth consecutive session, slipping under $102 per barrel. Easing energy costs have lessened immediate fears of sticky consumer inflation, shifting capital away from commodities and back into risk assets like equities and crypto.
-The Regulatory Pivot: Despite the U.S. Senate blocking the Clarity Act last week, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) introduced surprise joint proposals on September 17 to establish a clear oversight framework. This proactive agency structure has heavily boosted corporate sentiment.
-Corporate and ETF Aggression: Financial disclosures show massive institutional activity. U.S. spot Bitcoin ETFs added a substantial $593 million over two days, while companies like Strive, Inc. reported purchasing an additional 1,355 BTC at an average price of $79,475 last week.
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