According to Foresight News , Swissblock analysis suggests that recent price action has reinforced a bearish view. Bitcoin lost its key support level of $89,200, risk indicators continued to rise, and overall bearish sentiment intensified. Bulls are still holding a key defensive line around the $84,500 area, which is currently also a short-term downside target.
If the $84,500 support level holds (with acceptable liquidity clearing) and risk indices begin to decline, we may see a long buying opportunity; conversely, if the price breaks below $84,500 and consolidates below that level, it could trigger a deeper correction, targeting new lows below $74,000.
