Down but not out. Bitcoin's stair-step bullish trajectory is still intact — SkimNews
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- Bitcoin fell to approximately $84,200 on Wednesday, down over 2% from near $86,500 on Tuesday, according to CoinDesk data, though it remained within the $83,000-to-$87,000 range it has held for roughly two weeks.
- Giottus CEO Vikram Subburaj told CoinDesk that "the October 7 decline does not invalidate Bitcoin's stair-step rise," arguing that if $83,000 holds it would show sellers cannot force the price back into its previous trading band.
- Bitcoin's stair-step pattern since July has unfolded in ascending flat ranges: $62,000–$67,000 from mid-July to Aug. 18, followed by a 21% three-day rally; then $76,000–$81,500 from late August to mid-September, followed by a 6.6% gain from Sept. 19 to 21.
- Subburaj identified the $83,000 level as critical, saying a sustained break below $82,000–$83,000 would signal that September's breakout had failed and bring $80,000–$81,500 back into play as the next downside target.
- FxPro chief market analyst Alex Kuptsikevich placed support somewhat higher at around $84,000, stating that a break below it would open the door to $80,000, with Bitcoin trading near $84,300 as of the article's writing.
Why it matters: The $83,000–$84,000 zone is the line that separates a continued bull market from a return to prior ranges. Two named analysts (Subburaj at $83K, Kuptsikevich at $84K) converge on the same downside scenario — a sustained break opens $80,000–$81,500 — making this the single most-watched technical level for Bitcoin traders in the near term.
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