Bitcoin dips under $84,000 amid correction

Bitcoin's price has dipped below the $84,000 level amid short-term corrective pressure, falling below the 20-day moving average at $84,076. A double top pattern has emerged at $87,363, which increases the likelihood of a decline to Fibonacci support levels at $81,194, then to $80,646 and $76,602. Nonetheless, the overall price structure still supports a bullish trend, provided that resistance at $85,683 is surpassed and the double top pattern is invalidated. Caution remains key when trading in the volatile ranges between $83,266 and $84,370, with attention to a close above $87,363 to re-establish the bullish outlook.

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