Although bitcoin rebounded from the dip below $80,000 and now sits two grand higher, the risk of another deep correction has not been completely eliminated.Analysts are watching the $84,000 resistance as the immediate recovery level, while one longer-term scenario envisions the cryptocurrency plummeting to $68,000 first before going after its 2025 all-time high.$68K First, Rally Later?Daan Crypto Trade argued that BTC managed to sweep liquidity while still saving its daily close. He described the recent move as a good example of why waiting for candle closes actually matters. However, he warned that the recovery now needs to continue, which it hasn’t.The analyst said BTC must reclaim at least $84,000 in the coming trading days, as remaining and consolidating below it could leave the asset vulnerable to another gradual move south. A successful recovery above $84,000, though, would instead put the untapped highs around $87,000-$88,000 back in focus.This aligns with BTC’s recent price moves, as the asset has repeatedly struggled around the $84,000 area after tumbling toward $80,000. Weakening buyer pressure has intensified uncertainty around the recovery attempt, and the macro landscape dealt another blow earlier this week with a higher-than-expected September CPI reading.Meanwhile, fellow analyst EGRAG CRYPTO noted that investors should not necessarily interpret another substantial correction as the end of the bull market. Using a 2023 fractal, he added that BTC previously experienced a 22% pullback before its next major expansion wave. Applying similar math to the current numbers would mean a drop to $68,000.EGRAG identified $84,800 as the 0.5 Fibonacci “battlefield” and $68,000 as a possible shakeout zone before a potential move toward $114,000-$125,000, provided the broader structure remains intact.Buying Opportunity?CryptoGoos offered a different way of assessing the current market structure through BTC’s supply in profit. His strategy is to accumulate when the percentage falls toward what he considers a historically important support line, before gradually taking profits once the metric exceeds 80%.The analyst expects multiple local tops during the current cycle rather than one clean vertical move. Other recent BTC indicators have also painted a mixed picture. For instance, bitcoin has remained above its 50-week moving average for several consecutive weeks, which some analysts view as evidence that the broader recovery is intact.However, it has repeatedly failed to break through the $86,000-$89,000 resistance region, while more than $1 billion in profits were recently realized after it last climbed above $87,000.The post Bitcoin’s Road to $125K Could Include a Brutal Drop to $68K: Analyst appeared first on CryptoPotato.