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Bitcoin (BTC) Analysis: Will a Break of 68,991 Support Open the Door to $60,000?

The Elliott Wave structure we are tracking on the Bitcoin (BTCUSD) 4H chart suggests that Wave (4) may be complete. Selling pressure from the 74,075 invali...

Bitcoin (BTC) Analysis
Bitcoin (BTC) Analysis: Will a Break of 68,991 Support Open the Door to $60,000?
TradingView snapshot used for this free Elliott Wave chart preview.

The Elliott Wave structure we are tracking on the Bitcoin (BTCUSD) 4H chart suggests that Wave (4) may be complete. Selling pressure from the 74,075 invalidation zone has pushed the price to the critical 68,991 support. Technically, closes below this level will trigger an "impulsive decline" period, reaching the Fibonacci 1.618 target at $60,772. It is crucial for investors to focus on risk management and follow the breakout confirmation in this area. Subscribe to the Ewplans newsletter to not miss these strategic insights!

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