Bitcoin at $84K – Can BTC hold on or drop to $60K?

Green arrows point to previous bounces off mid-level bands, while red arrows highlight failed supports.

The markets current behavior closely mirrors past phases where price failed to hold a level and swiftly dropped to the next.

A clean break here could echo the 2022 plunge — but also set up a rebound, as seen later that year.

Looking forward

If Bitcoin consolidates above the $84,640 line, it would suggest that the CVDD × 2.618 level is acting as a new base. This could indicate a local bottom is forming, opening the door to a new rally toward uncharted highs.

Similar consolidations in 2021 and late 2023 preceded strong bullish runs. Sustained strength here would reinforce bullish sentiment and validate the channels predictive power.

However, a breakdown below $84K may trigger a deeper correction, with the next support at $64,700 — aligned with the April 2021 all-time high.

If selling pressure persists, price could fall as low as $60K.

While bearish in the short term, such a move wouldnt be unprecedented; Bitcoin followed a similar pattern in 2021, briefly dipping before launching to new highs. The key will be how long it stays below this level.