This rapid decline, which started from the line of 89800 USD, showed signs of stabilization after touching the support near 86500 USD. This position is not only an important threshold for the intraday decline but also overlaps with the support zone formed by multiple previous daily lows, leading to a strong bullish defense expectation technically. If the price can form a double bottom or a right shoulder of a head and shoulders bottom structure here, accompanied by bullish engulfing or long lower shadow reversal signals on the hourly chart, it may trigger a technical rebound targeting the resistance zone of 88000-88500 USD.

Although the daily chart has clearly faced resistance at the 90000 USD level, the current pullback can still be seen as a healthy correction to the significant rise since the beginning of the year. As long as the price can hold firmly within the mid-term bullish-bearish dividing line area of 85000-86000 USD, the overall ascending channel structure will not be broken. This round of adjustment has effectively released short-term overbought pressure and cleared some of the unsteady bullish positions. If subsequent buying can continue to support at key support levels, it will instead lay the foundation for a more robust rise. $BTC #巨鲸动向

Bitcoin strategy: Buy near 86000, target 87500

Ethereum strategy: Buy near 2960, target 3050