Bitcoin price experienced a rebound and moved above the resistance level of $84,000, following a drop to a multi-month low of $78,200. This recovery was influenced by the positive performance of US equities and news that BlackRock plans to allocate 2% of its model portfolio assets to its IBIT ETF. The release of a positive personal consumption expenditure report in the US also supported Bitcoin's rebound. However, market analysts have differing views on Bitcoin's future price action, with some predicting a consolidation phase and others warning of further downside. The formation of a double-top pattern suggests a potential target of $72,850, which could indicate the completion of a bullish signal.



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