Elliott wave analysis of the market for July 16, 2026 BTCUSD

F
FreshForexTeam

​BTCUSD: BUY 65550, SL 64200, TP 75000.

16.07 BTC.png

The Bitcoin outlook has remained largely unchanged over the past trading session. After slightly breaking above the previous Wave 1 high, the price has paused. This is likely just a brief consolidation before the next leg of the uptrend begins.

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The current scenario still favors further upside as Wave 3 of the bullish impulse starts to unfold.

As a result, long positions continue to offer an attractive trading opportunity.

New positions may be considered on a breakout above the nearest local high at 65,550.

Investment idea: BUY 65550, SL 64200, TP 75000.

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