Bitcoin plummeted over 5%, hitting a low of $85,663, with the latest report at $86,215

Deviating from the 21-day moving average of $91,592, indicating potential bearish pressure

The close on Monday may fall below the key support level that sellers are watching

If the closing price is below $86,760, it will enter the Bollinger descending channel

Breaking below $85,526, which is the 78.6% Fibonacci retracement level from the historical high, will be more bearish

From there, the psychological level of $80,000 will become the target; stop-loss may be triggered $BTC