This rapid decline from the $89,800 level has shown signs of stabilization after reaching support near $86,500. This level is not only an important intra-day support point but also coincides with a support zone formed by multiple previous daily lows, indicating strong bullish defense expectations from a technical perspective. If the price can form a double bottom or a head and shoulders bottom with the right shoulder and is accompanied by reversal signals such as bullish engulfing or long lower shadows on the hourly chart, it could trigger a technical rebound targeting the resistance zone of $88,000–$88,500.

Although the daily chart faces clear resistance at $90,000, the current correction can still be seen as a healthy adjustment following the significant rise since the beginning of the year. As long as the price can hold above the $85,000–$86,000 region, the overall upward channel structure remains intact. This round of correction has effectively released short-term overbought pressures and cleared some hesitant long positions. If subsequent buying continues to support at key support levels, it could lay a more solid foundation for a subsequent steadier rally.
#FHE代币剧烈波动 $BTC
Bitcoin outlook: Long near 86,000, target 87,500
Ethereum outlook: Long near 2,960, target 3,050