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After the price of Bitcoin fell below 90,000, it has continued to decline, breaking through the support of the upward channel. In the four-hour chart, the price touched around 86,500; although the bearish volume has decreased, the bearish trend remains unchanged. The upper resistance is first observed in the 87,000 - 87,500 range, which is both the pressure point of the downward trend line and a key area for short-term bullish and bearish contention; the lower support focuses on 86,000.

The moving averages show a bearish arrangement, with the K-line encountering resistance around 2,800 and showing a weak pattern of gradually decreasing highs and continuously refreshing lows. Although the volume has decreased, the trend remains unchanged; after the KDJ formed a death cross, it has contracted downward, with the upper resistance concentrated in the 2,800 - 2,850 range, and the lower support initially focusing on 2,720.