How low can the Bitcoin price go?

Bitcoin (BTC) has seen a rough start to its historically bullish October, falling from $66,000 to under $60,000 in the first three days. A bearish engulfing candle on the weekly chart signals potential for further consolidation. While Bitcoin bounced from a demand zone between $60,500 and $57,400, the price could still drop further. The current correction could lead to a drop to the $57,800 and $54,500 support zones. However, the "golden zone" between 0.50 and 0.618 Fibonacci retracement lines offers potential for traders to build swing positions.