Currently, there are basically two voices in the market. One is that remaining at a high level without a breakthrough for a long time indicates significant pressure, and a rebound means going south. The other voice suggests that the upward trend line has not been broken in substance, and overall, it is still in an upward phase. It can continue heading north. However, in the last two or three days, the market has mostly oscillated between 86 and 88, with no significant continuation in either direction. Personally, I believe that in the short term, it can go south to see if it can break the trend line.
From a technical analysis perspective, the resistance level above is at 885; breaking it can confirm the trend. However, there has been no continuation for two or three consecutive days, and the bullish momentum is gradually slowing down. Currently, the small-scale Bollinger Bands are gradually narrowing, creating a clear area of competition in both directions. Without a position, one can only go south for now. After all, there is no position to look upwards.
Recommendation for Bitcoin trading: Go south near 87500
