Bitcoin Trend Analysis

After a period of decline, Bitcoin’s price has continued to consolidate and recover. The intraday pullback resulted in a rebound, and the current price is above 86,000. This high level has reached short-term resistance, and the next resistance level to watch is the intraday high. If the rebound fails to break and stabilize above this area, there is a risk of further pullback to support. Conversely, if it breaks upwards, the price may move further towards the 90,000 level. Looking at the short-term hourly chart, the price is currently under pressure and undergoing a pullback. The short-term rebound is relatively weak, and the price is expected to test lower levels further. The key support level to watch is 85,000. If this level holds, the price will continue to consolidate within the range; otherwise, it will test lower levels again. Our current strategy remains to buy low and sell high. The upper resistance level to watch is 89,000, and the lower support level is around 85,000. If this level holds, the downtrend is unlikely to begin in the short term. Consider entering long positions on pullbacks, with stop-loss orders in place if the price breaks through. If the price breaks below this level, follow the trend with short positions to capture short-term profits

Short at 87500-88500, stop loss at 90500, target below 865000. Long at 85300-84300, stop loss at 500, stop loss at 80000, target above 86300