Bitcoin Eyes Breakout Above $66,200 as Analysts Predict Further Gains

Bitcoin's recovery continues to gain momentum as analysts watch for a breakout above $66,200. This level is seen as a crucial test of whether buyers can extend their move toward $69,000 and higher.

A recent 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 chart shows Bitcoin recovering from its June low and forming a short-term sequence of higher lows.

The first major resistance sits at the 38.2% Fibonacci retracement near $66,233. A sustained break above this level could extend the recovery toward the 50% retracement around $69,117.

However, analysts also warn that weakening momentum could trigger a liquidity sweep toward $62,000 before buyers attempt another advance. CrypNuevo, an analyst, maintains an upside bias while watching liquidity between roughly $62,000 and $64,000.