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 at approximately $83,748 (€74,164), following minor morning consolidation as bulls push to wipe out its remaining year-to-date losses.
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Bitcoin Insights Today
• Citigroup Lifts Price Targets: Analysts at Citigroup significantly raised their 12-month Bitcoin price forecast to $113,000 (up from $82,000). The bank cites heightened crypto market activity, an improving macroeconomic environment, and robust ETF inflows as major drivers.
• Sideways Limbo Near 8-Month Highs: BTC continues to hover within a tight intraday range after a recent bullish multi-month breakout that brought it close to $86,000. A push above its yearly open of $87,500 would turn Bitcoin officially positive for 2026.
• Macroeconomic Backdrop: A wave of institutional adoption—marked by massive ETF holdings, sovereign wealth fund positions, and expected interest rate cuts—keeps the long-term outlook heavily supportive.
• Technical Signals: The price is consolidating heavily under its short-term exponential moving average (EMA50), but emerging positive signals in relative strength indicators are helping to combat short-term bearish corrective pressure.
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