Bitcoin Defends $84K Support Like a Champ: Oversold Bounce Targets $94K This Week
Bitcoin Magazine
Bitcoin bounced from near $80K to reclaim $84K support, with oversold conditions suggesting a potential rally toward $94K this week.Summary
Bitcoin successfully defended the critical $84,000 support level, recovering from a dip near $80,000 to close the week at $86,850. Daily oscillators were heavily oversold, indicating an expected bounce, at least into Monday. Key support levels now include $84,000, with lower potential supports at $75,000 and a high-volume zone between $72,000 and $69,000. Resistance targets for the bounce are $91,400, followed by a strong zone at $94,000. If $84,000 holds, the price should target these resistance levels. However, the broader outlook suggests that the recent breakdown from a broadening wedge pattern targets $70,000 over the next few weeks, despite the immediate short-term bounce potential.
(Source：Bitcoin Magazine)