Bitcoin Elliott Wave analysis, 18 Sept 2026. Key support $70,500 to $75,124 holds for a 1-2 setup. Video by More Crypto Online.
We examine the Bitcoin Elliott Wave structure following the recent Fed rate hike, noting that while historical data suggests weakness in the first month, the current wave count suggests a corrective nature rather than an impulsive decline. The analysis focuses on maintaining the 1-2 setup by holding the support zone, which would allow for a potential higher high before the next pullback. We highlight that the move remains a three-wave advance so far, meaning probabilities are balanced until a fifth wave confirms the bullish trend direction.
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Bitcoin (BTC) is trading at approximately $76,385 (around €67,214), showing a modest 0.3% to 0.8% increase over the past 24 hours. The digital asset is experiencing a brief period of stabilization after experiencing heavy downward pressure earlier in September
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Bitcoin Insights Today
-Mining Costs vs. Price: According to recent on-chain modeling by prominent analysts like PlanB, Bitcoin is currently trading strictly below its global production cost band. With network difficulty resting around 127T, the market is described as being in a final deleveraging phase, awaiting a difficulty adjustment to establish a firm price floor.
-The $80,000 Resistance: Technical analysts note that multiple measures of investor cost basis converge around $80k. Every minor rally from the September lows has faced a rejection at this barrier, implying that a sustained daily close above $80,000 will be required to spark any true year-end bull momentum.
-Derivatives Sophistication: A joint Glassnode and Bybit derivatives report released today highlights a major structural shift: options are rapidly approaching nearly half of the total Bitcoin derivatives market, indicating institutional traders are focusing heavily on sophisticated hedging rather than raw directional leverage.
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