Bitcoin Surges Past $72,000 as Analyst-Flagged Target is Reached

Bitcoin (BTC) has broken into a new price zone after surging over 10% in the past 24 hours to $72,090.87.

The sharp upward move was predicted by an Elliott Wave analyst who flagged the $69,000 to $72,000 range as a target back in July.

According to the analyst, this price zone represents a third wave under Elliott Wave theory, which is typically the most aggressive phase of a rally.

The analyst also noted that hitting the target does not guarantee an immediate reversal and pointed to two downside levels as important: $70,348 and $67,000.

If Bitcoin breaks below these levels, it could signal a more decisive top or even the end of the recovery attempt.