In this video: Bitcoin Elliott Wave analysis for 6 October 2026: the range below the 21 September high is still holding, and $82,000 is the key support for one more extension. Video by More Crypto Online.
We look at why the consolidation may end soon, what the 3-wave moves on the smaller timeframe mean, and why the $63,300 to $74,800 zone is not a target yet.
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As long as $81,600 to $82,900 holds, there is no confirmed top, and a break above $87,250 opens the door to $88,600 and possibly $92,200.
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Bitcoin Insights Today
• Macro Headwinds: Rising U.S. 10-year Treasury yields (sitting around 5.25%) and a strengthening U.S. dollar are applying minor pressure to risk assets, capping immediate crypto gains.
• The $87,570 Hurdle: The 2026 yearly opening price of $87,570 is serving as the primary resistance ceiling. Reclaiming this point is technically crucial to turn Bitcoin's yearly performance positive.
• Institutional vs. Retail Cycles: Today marks exactly one year since Bitcoin hit its all-time high of $126,080 on October 6, 2025. Standing at ~32% down from its peak, analysts note this correction is far shallower than past cycles (which typically saw 70%–82% drops), signaling a structural shift toward institutional ETF stability and lower retail leverage.
• Corporate Inflows: Despite a minor outflow of $89.9 million from spot ETFs on Monday, companies like MicroStrategy continued accumulating, adding another 334 BTC to their reserves.
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