Bitcoin Tests Critical Coin Flooring Around $84,000, Eyes $70,000 Support Zone

Bitcoin is consolidating under significant selling pressure as the new week unfolds. The benchmark cryptocurrency retreated to $88.60K, up just 0.88% over the past 24 hours, reflecting a market still caught between bullish defense attempts and renewed bearish momentum. With the coin flooring structure facing critical tests, traders are watching support levels closely as sellers prepare to challenge the $84,000 floor that has held so far.

Current Price Pressure and Immediate Coin Flooring Levels

The inability to break above $94,000 last week was the turning point that shifted momentum decidedly to the downside. Bitcoin’s weekly close confirmed seller strength, and this week the bears are poised to attack the primary coin flooring support at $84,000. While bulls might attempt to construct a defensive bounce around $85,000 to $87,000, the technical structure suggests this hold will be fragile without substantial buying volume stepping in.

A successful defense of the $84,000 coin flooring would require convincing price action and institutional accumulation signals. However, the prevailing market structure indicates sellers have taken control and may be capable of driving price action below this critical level within days.

Multi-Layer Support Structure: From $84K to $70K Coin Floor

Should the $84,000 coin flooring give way this week, the initial descent will likely accelerate toward the $75,000 area with potential washout selling pushing into the low $70,000 range. This extended coin flooring zone between $72,000 and $68,000 represents the secondary support structure where buyers should enter with stronger conviction.

The $72,000 to $68,000 support band was engineered as a more substantial coin floor by previous market reversals and should hold at least initially. Penetrating through this zone would require sustained selling pressure over multiple weeks rather than a single spike lower. Below this coin flooring, the 0.618 Fibonacci retracement level sits at $57,000, establishing a tertiary safety net where technical traders will look to construct meaningful long positions.

Upper Resistance Framework and Breakout Potential

From the upside, a blanket of resistance stretches from $94,000 all the way through $118,000. The path higher requires overcoming multiple obstacles: first the $94,000 level that has repeatedly rejected price advances, then $97,000 where seller clusters typically emerge, followed by $101,000 and the thick $107,000 zone that would demand substantial accumulation momentum.

Reaching $118,000 would require a fundamental shift in market sentiment that currently shows no signs of materializing. The technical structure remains firmly controlled by sellers, making upside breakout scenarios unlikely in the near term.

This Week’s Outlook: Bearish Coin Flooring Test Expected

The bearish weekly candle close set the stage for renewed selling aggression this week. After weeks of consolidation, sellers have rested and are now ready to press the advantage lower. The primary action to watch involves whether the $84,000 coin flooring breaks decisively or manages to hold as a floor one more time.

A decisive break below $84,000 would trigger accelerated selling toward at least $75,000, likely extending into the low $70,000 secondary coin flooring zone. Conversely, if bulls can construct and hold a higher low around $87,000, it might signal another pause in the downtrend before the next wave of selling begins.

Medium-Term Projection: Support Zone Bounce Scenario

Looking ahead several weeks, the most probable scenario involves sellers successfully breaking through $84,000 and driving price into the $72,000 to $68,000 coin floor support band. However, this zone is not expected to collapse immediately. Instead, a strong bounce should emerge after the initial test penetrates this area, potentially recovering back toward $84,000 before sellers make their next attempt lower.

This $72,000 to $68,000 coin flooring area represents a critical inflection point for the broader market structure. A sustained hold here could signal a temporary reversal out of the bear market phase, though if Bitcoin’s historical 4-Year Cycle patterns hold true, the price may ultimately test even lower levels as the cycle unfolds through 2026.

Market participants should recognize that coin flooring support zones strengthen with each successful defense but weaken with repeated failures. The current structure suggests multiple tests will occur before a definitive floor is established at any given level.