Bitcoin Bulls Eye $95K Zone Amid Potential Five-Wave Rally

A potential five-wave impulsive advance in Bitcoin has been tracked by analysts since July 1. According to an Elliott Wave Principle analysis, the current structure remains intact and suggests a high-probability completion of a smaller-degree fourth wave off the July 1 low. This would set up a fifth-wave advance (gray wave v) with an ideal target zone between $85,200 and $94,500.

The daily chart shows a classic bull flag formation, which could resolve in favor of the bulls as it points toward approximately $93,000 as an ideal target. This combined with the fifth-wave Fibonacci and resistance confluence, makes the $85K, $95K region the primary upside objective.

A clean break and hold above $81,300, $85,200 would further increase confidence in the $93K measured-move target from the completed bull flag and the broader $85K, $95K fifth-wave zone. However, failure to hold the warning levels, especially a close below $76,248, would force a reassessment of the impulsive count.

The next larger-degree targets would then open toward the $164K, $216K Fibonacci zone for the fifth wave of the new cycle if the potential five-wave sequence from the July 1 low completes as projected. This would confirm that an important cycle low was struck on July 1 and end the bear market prematurely.

For now, the weight of the evidence, wave structure, flag completion, and momentum, favors the bulls targeting the $85K, $95K region in the weeks ahead.