Bitcoin Bear Control Solidifies: $84K Support Broken, Price Eyes $68K–$60K Zone
Bitcoin broke the critical $84,000 support level, dropping 13% last week, confirming bearish control and targeting the $68K–$60K zone.Summary
Bitcoin's price action last week confirmed bearish control as the critical $84,000 support level was decisively broken, leading to a 13% weekly drop, closing at $76,919. While a small bounce toward $80,000 or $81,000 might occur early this week due to oversold RSI, further downside continuation is expected. Key resistance levels are now set at $79,000 and $81,000, with $84,000 acting as strong resistance. Bears are targeting support zones between $72,000 and $68,000; losing $67,000 could expose the price to $58,000. The loss of the 100-week Simple Moving Average (SMA) suggests the market is in a long-term bear market, with a high volume node expected to provide support between $68,000 and $60,000 if the lower levels fail.
(Source：Bitcoin Magazine)