In this video, we break down Bitcoin on the 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) is trading near $84540 on Wednesday, September 30, 2026. The cryptocurrency is currently consolidating between $83,000 and $84,000 as the month draws to a close, effectively shaking off its historical "Red September" stigma with a net monthly gain of roughly 6.8%.
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Bitcoin Insights Today
• Macro Pressure from Bonds: Crypto and equity markets face headwinds due to spiking US Treasury yields. The 10-year Treasury yield hit its highest level since 2007 at 5.3%, while the 30-year yield touched 5.6%, dampening investor appetite for riskier assets.
• Strong Technical Health: According to a report by K33 Research, BTC recently absorbed a massive derivatives deleveraging event without crashing. Analysts consider this a sign of a robust structural foundation.
Critical Levels to Watch:
• Support: $81,500 – $83,000. Bulls must defend this zone to keep the broader upward momentum intact.
• Resistance: $85,000. Reclaiming this level is essential to trigger a fresh rally toward $90,000 or even the psychological $100,000 mark.
• Awaiting Macro Data: Markets are treading cautiously ahead of tonight's core Personal Consumption Expenditures (PCE) inflation data release, which will likely dictate where yields—and Bitcoin—move next.
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