After a strong rebound to $86,400 following a drop to $85,288 in the morning, it shows that there is effective bullish support in this area. The quick V-shaped reversal indicates that the main buying power remains active, with the hourly MACD green bars appearing and the price standing above the short-term moving averages, presenting a corrective trend.
The current key resistance is located in the 86,800-87,000 range. If a volume breakout occurs, it will confirm a strengthening short-term trend, with further targets looking above $87,500. The lower range of 86,000-86,200 has turned into the primary support zone, and as long as the price remains stable above this area, the rebound structure is expected to continue.
Overall, the morning pullback can be seen as a technical washout, with the daily upward channel remaining intact. In terms of operations, attention can be paid to opportunities for stabilization at support or following a breakthrough of key resistance, but strict risk control is necessary. If there is an unexpected drop below $85,800, a reassessment of the short-term direction will be required.
