Bitcoin Bulls Eye $69K as Pullback Risk Builds

Bitcoin's recovery remains active as analysts watch for a breakout above $66,200 for a move toward $69,000 and higher. However, weakening momentum could trigger a liquidity sweep toward $62,000 before buyers attempt another advance.

The Elliott Wave analysis from More Crypto Online suggests that Bitcoin may continue climbing for another one to two weeks before forming a local top. The current structure does not yet provide clear evidence that the rebound has reached its peak.

A sustained break above the 38.2% Fibonacci retracement near $66,233 could extend the recovery toward the 50% retracement around $69,117. Further gains would place the 61.8% level near $72,126 in focus, followed by the broader resistance zone around $76,638.

However, a rejection from the resistance zone could restart the broader decline and bring support near $57,000 back into view. A deeper breakdown could expose the wider support region between approximately $44,000 and $39,000, although those targets remain conditional.