Bitcoin's Elliott Wave Analysis Suggests New Bullish Leg Ahead

The Elliott Wave analysis suggests that Bitcoin's recent price action is indicative of a new bullish leg. According to the analysis, the cryptocurrency established a significant low on June 25, 2026, and from there, it began to unfold with impulsive characteristics. The initial advance completed wave 1 at $66,990, followed by a corrective pullback in wave 2 that ended at $62,214.75.

Momentum then shifted upward again, as reflected in the one-hour chart. From wave 2, wave ((i)) concluded at $65,510, while the subsequent retracement in wave ((ii)) found support at $62,470. The structure has continued to develop with internal subdivisions forming another impulse of lesser degree.

From wave ((ii)), wave (i) terminated at $65,080, and the corrective phase in wave (ii) ended at $64,112.8. Bitcoin then extended higher in wave (iii), reaching $70,089, before a modest decline in wave (iv) concluded at $67,993.4.

The market is now progressing toward completion of wave (v) within wave ((iii)). Once this final leg concludes, a corrective pullback in wave ((iv)) is anticipated before the broader rally resumes. The critical pivot remains at $62,218.2, and as long as this level holds, corrective phases are expected to find support within a three- or seven-swing structure.