Bitcoin Just Reclaimed $68,000 — Breakout Confirmation Next?

Mar 2

After the military tensions in the Middle East began, Bitcoin(BTCUSDT) initially moved lower. However, as the situation stabilized, the market regained confidence — and BTC started to recover.

Now, Bitcoin has successfully broken the key $68,000 trading level and is currently attempting to break the upper lines of a symmetrical triangle.

From an Elliott Wave perspective, it appears that BTC is completing microwave C of the main wave Y.

In addition, Bitcoin maintains a strong correlation with the SPX500 index(SPX500). Since SPX500 has been pumping strongly in recent hours, this increases the probability of further upside for BTC.

I expect Bitcoin to break the upper lines of the symmetrical triangle and potentially move toward at least $70,881.

Will BTC successfully confirm the breakout and continue higher?

First Target: $70,881

Second Target: $72,273

Third Target: Cumulative Short Liquidation Leverage($74,560-$72,440)

Stop Loss(SL): $66,956

Points may shift as the market evolves

Cumulative Long Liquidation Leverage: $68,480-$67,760

Cumulative Long Liquidation Leverage: $64,440-$63,750

💡 Please respect each other's opinions and express agreement or disagreement politely.

📌Bitcoin Analysis (BTCUSDT), 4-hour time frame.

🛑 Always set a Stop Loss(SL) for every position you open.

✅ This is just my idea; I’d love to see your thoughts too!

🔥 If you find it helpful, please BOOST this post and share it with your friends.

Mar 2

Trade active

Trade was activated

Mar 3

Note

The SPX500 index has once again started a sharp decline.

Financial markets are highly unstable right now, reacting aggressively to every piece of news. Even minor headlines are triggering strong, high-momentum moves across the board.

Volatility is elevated, sentiment is fragile, and price action remains extremely sensitive to macro developments.

Mar 5

Trade closed: stop reached

Although the analysis process was correct, the stop loss was triggered for me. But I hope this analysis was profitable for you.

I always try to be honest with my followers.