Bitcoin Magazine Bitcoin Defends $84K Support Like a Champ: Oversold Bounce Targets $94K This Week

Bitcoin Bulls Stunned after Sellers Take Price All the Way Down to $80K

Last week, we identified the $84,000 area as the next major support for bitcoin, and that’s exactly where the price went. Bitcoin dropped to nearly $80,000 but managed to climb back above $84,000 support to close the week out at $86,850. Heading into this week, look for bears to let off the gas pedal a little bit as they sit comfortably in control of the price action. Daily oscillators were heavily oversold heading into this past weekend, so a bounce is in order at least into Monday, possibly a little further out.

Key Support and Resistance Levels Now

$84,000 Support held on the weekly close, so this is the level bull

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