Technical analysis shows that the current price comparison has failed to break through previous highs, and the ongoing consolidation suggests the presence of downside risks. The key support level has shifted down to 85,000, which is a very important technical support level. If it breaks down, it could trigger a larger continuation.

From the 4-hour chart, the MA256 moving average is currently around 88,500, forming strong resistance. The trend shows that each rebound to this area faces significant selling pressure. Combined with the current candlestick pattern, if the price continues to be blocked by this key resistance, the probability of a decline will gradually increase over time. Comprehensive technical indicator analysis suggests that a technical pullback may occur in the afternoon.

In the afternoon, the short-term target for Bitcoin is around 87,700, with a stop at 86,000 to watch for a rebound.