Bitcoin faced downward pressure on Wednesday, yet its broader positive market structure remains intact.
Based on metrics from CoinDesk, the premier digital asset slid to $84,200 during early Wednesday trading, representing a decline of more than 2% relative to Tuesday’s levels near $86,500. Nonetheless, the asset continues to stay within its established two-week trading band, preserving a bullish multi-month step-by-step upward trend.
Vikram Subburaj, chief executive officer of India-based digital asset platform Giottus, communicated to CoinDesk that the downward move on October 7 does not negate the step-by-step appreciation of Bitcoin.
Ever since July, the cryptocurrency has advanced through a succession of horizontal accumulation zones, with each new bracket positioned higher than the preceding one. When viewed on a technical chart, this sequence resembles a staircase, which explains the descriptive terminology of a stair-step pattern. As illustrated in the primary graphic, the aggressive price surges represent the vertical transition from one step to the next, whereas the prolonged consolidation phases form the flat plateaus in between.
Beginning in mid-July and extending through August 18, the token fluctuated inside a corridor spanning approximately $62,000 to $67,000. Subsequently, the asset surged by 21% over the course of a three-day window.
The subsequent level developed from late August until the middle of September, oscillating roughly between $76,000 and $81,500. Another rapid expansion succeeded this phase, marking a 6.6% increase between September 19 and September 21.
Ever since that period, the leading cryptocurrency has maintained positions fluctuating from roughly $83,000 up to $87,000.
Subburaj noted that following the breakout past $81,500, Bitcoin formed a fresh operational channel spanning approximately $83,000 to $87,000. He added that if the $83,000 threshold successfully defends, it will demonstrate that bearish participants lack the strength to drive valuations back into the preceding trading corridor.
The primary downside threshold requiring close observation rests near $83,000. A decisive breakdown beneath this floor would disrupt the current staircase formation, at least temporarily.
Subburaj further indicated that a persistent drop beneath the $82,000 to $83,000 zone would imply that the September breakout has turned invalid, subsequently exposing the $80,000 to $81,500 region to potential retesting.
Meanwhile, Alex Kuptsikevich, senior market strategist at FxPro, suggested that foundational support sits slightly higher at approximately $84,000, warning that a violation of this level would expose the market to a descent toward $80,000.
At the time of publication, BTC changes hands close to the $84,300 mark.
Originally published at https://www.coindesk.com/markets/2026/10/07/down-but-not-out-bitcoin-s-stair-step-bullish-trajectory-is-still-intact.
