Judging from the on-chain data, it is still relatively uncomfortable at present, Bitcoin must hold on to 84,000, and once it fails, it may trigger a plunge mode!

The indicator shows that the current currency price is facing the life and death line - CVDD× 2.618 Fibonacci extension (current price 84640 dollars) According to the analysis of the indicator model:
✅ Stand firm and take off: As long as the bottom is completed above 84000, the main rising wave will most likely start on the eve of the interest rate cut.

❌ If it falls below it, it will be bloody: if it closes below 84,000 for 5-7 consecutive days, the first interval will point to the vicinity of 69,000 knives, and the second downward range will point to the 60,000 psychological price mark!

If this happens, there could be a strong bearish sentiment in the market. But brothers, a fall does not equal death and does not necessarily prevent the emergence of new highs, as a similar pattern occurred between May and July 2021, but bitcoin still reached new all-time highs after that.

So brothers, is this time an opportunity or a trap?

Indicator description: CVDD channel is an innovative analytical method for dynamic analysis of support and resistance levels. It is based on one of the most accurate on-chain indicators that identify the bottom of Bitcoin's price cycle.