Bitcoin’s price is currently hovering near the $84,220 level, facing critical support with potential for a drop to $65,635 based on a bearish wedge pattern and resistance at $92,070. Analysts attribute this recent surge in price action to expanding DeFi applications and increasing institutional interest, but recent volatility suggests the path forward may be uncertain. A bearish wedge pattern is forming, indicating a potential downtrend towards the target of $65,635, as evidenced by the previous double top resistance level. If Bitcoin breaks below $84,220 support, it could trigger a swift move down to $65,635, resulting in a significant correction for short-term traders who remain bullish on Bitcoin.