How High Will Bitcoin Price Go Today?

Bitcoin (BTC) is trading at $72,090.87, up 10.3% over the past 24 hours and 12.5% on a longer-term reading, after the asset pushed into a price zone that one chart analyst had flagged weeks in advance.

Target Zone Reached in a Single Session

According to a technical breakdown shared by an Elliott Wave analyst, Bitcoin’s move into the $69,000 to $72,000 range had been forecast back in July. The analyst described the prior month as a prolonged sideways period before Wednesday’s sharp upward move, which they characterized as a “third wave” under Elliott Wave theory, typically the most aggressive phase of a rally.

What the Analyst Is Watching Next

The analyst was careful to note that hitting the target does not guarantee an immediate reversal. They pointed to the $72,100 level as the next Fibonacci resistance point and said momentum could still carry price higher before a larger pullback develops. Two downside levels were flagged as important. A break below $70,348 would suggest a more decisive top is forming, while a drop under $67,000 would, in the analyst’s view, signal that the recovery attempt is over.

On the upside, $83,000 was identified as the level that would technically invalidate the current bearish wave count entirely.