In this video, we break down Bitcoin on the 1hr 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 around $83,300 to $83,500 on Thursday, September 24, 2026, marking a roughly 2.5% to 2.9% decline over the past 24 hours. This pullback cools off a major rally earlier in the week that saw Bitcoin breach $87,300—its highest price level since January 2026.The wider cryptocurrency market has faced a broader 5% correction today, driven primarily by macroeconomic pressures and profit-taking.
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Bitcoin Insights Today
Despite today's temporary slide, the underlying market structure remains structurally bullish for the month of September.
-Robust ETF Inflows: Underpinning the market is highly resilient institutional demand. Spot Bitcoin ETFs pulled in over $2 billion this week alone ($690 million on Monday, Sept 21), driving total inflows over the last three months past $5.6 billion and officially pushing ETF net flows positive for the year.
-Crucial Support Levels: Prominent analysts observe that Bitcoin remains safely above its short-term trend line, with its 20-day EMA sitting at $80,344 and its 50-day moving average at $74,920.
-Next Targets: Market observers and technical analysts view $82,500 to $82,000 as the line in the sand that must hold to protect the macro breakout. If Bitcoin stabilizes here, analysts like Ali Martinez maintain a mid-to-long-term upside price target of $100,000 fueled by structural institutional scarcity. A daily candle close back above $87,500 will invalidate the current correction.
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