Bitcoin Price Analysis: What’s Next for BTC After Sharp Drop Below $84K?

Bitcoin is trading below $84K after failing to continue its latest push toward the $90K region. While the general structure remains constructive, the latest pullback and weakening futures taker activity suggest that BTC may need to consolidate before attempting another breakout. Bitcoin Price Analysis: The Daily Chart The daily chart shows a significant structural improvement over the past several months. BTC has reclaimed both the 100-day and 200-day moving averages, currently positioned around $72K. The two averages have also converged, with the shorter-term average turning higher. This bullish crossover could potentially further strengthen the longer-term trend. Meanwhile, the price has also moved decisively above the $75K area, which now represents an important demand zone. Holding this region would keep the broader sequence of higher lows intact and preserve the bullish recovery structure. A deeper correction toward $70K, however, would still leave the larger trend relatively constructive, although losing that area would weaken the setup considerably. On the upside, BTC is facing a substantial supply zone around $88K. The market has repeatedly struggled to establish a daily cl...