Yesterday, after BTC tested the key resistance level of 90300, it encountered a strong counterattack from bears, causing the price to quickly fall back and test the support level of 85000. Although there was a slight rebound afterwards, it is currently fluctuating within a narrow range around 86000, with rebound momentum clearly exhausted. The short-term market pattern is completely dominated by bears. Unless there is unexpectedly positive news to boost the market, the price is likely to continue its downward pressure.
It is suggested to gradually build short positions as BTC rebounds to the range of 87200-88000, with the first target directly looking at the previous support of 85000; if this support level is broken with volume and stabilizes below, one can add positions to follow the trend, looking down at the second target of 84000.
