Bitcoin’s Crucial Test at $84K

• Bitcoin faces a crucial test at $84K, with potential for breakout or breakdown.
• The CVDD channel signals key support, with past breakdowns leading to sharp corrections.
• A drop below $84K could send Bitcoin toward $64,700 or even $60K.

Bitcoin (BTC) is at a potential turning point. The $84,640 mark serves as a key battleground. The CVDD channel, a trusted on-chain indicator, highlights this level as a make-or-break zone. Holding above could fuel a rally, while dropping below may trigger a sharp decline. Traders face a pivotal moment where every move could dictate the next trend.

The CVDD Channel – A Guide to Bitcoin’s Next Move

The Cumulative Value Days Destroyed (CVDD) Channel tracks investor behavior. It measures the movement of older coins to reveal hidden patterns. Fibonacci-based multiples create key support and resistance zones that have shaped Bitcoin’s price history, offering clues about future moves. Bitcoin now sits near the CVDD × 2.618 level, a zone that has provided strong support in past uptrends. However, similar breakdowns in mid-2022 and late 2024 led to sharp corrections. Both times, the price dropped to the next lower CVDD band before rebounding.

The Fight for $84K – A Repeat of the Past?

Past data shows green arrows marking support zones that led to rallies and red arrows highlighting failed supports that caused declines. This historical pattern suggests two possible outcomes: holding the level could trigger a breakout, while losing it might provoke a steep fall.

A strong bounce from $84,640 could mirror late 2023, a period where Bitcoin consolidated before pushing to new highs. Sustained strength here would reinforce bullish momentum. Conversely, a break below $84K could see the price tumbling toward $64,700, a crucial psychological zone aligned with April 2021’s all-time high.

Losing that support could open the door for a drop to $60K. Historical trends suggest that breakdowns often set the stage for major rebounds, allowing a brief plunge to shake out weak hands before another surge begins. Bulls and bears now confront a high-stakes battle; whoever prevails will dictate Bitcoin’s next major move.