📰 Bitcoin (BTCUSD) Steadies in Elliott Wave Rally, Eyes $140K as Institutional Demand Grows
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Jul 22, 2025, 16:08 EDT
| 🔗 Source: NewsBTC
🧠 Summary
Bitcoin is climbing steadily within a rising channel, approaching Wave (5) of an Elliott Wave structure that suggests a strong bullish move. Institutional buying supports momentum, targeting $140,000, though short-term RSI overbought risks a minor correction near critical support at $99,531.
💡 Why this signal?
- Bitcoin’s hourly price action indicates potential for a bullish breakout testing local resistance, signaling short-term upward momentum.
- However, the daily chart shows a balanced struggle between buyers and sellers, suggesting sideways consolidation is likely in the near term.
- Midterm upward movement depends on closing prices above a critical level, which could trigger renewed growth towards new highs.
📈 BTCUSD Price Trend
⏱️ Impact Timing
as soon as the news is out
👥 Competitor Impact
No competitors impacted.
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