Bitcoin current price is 86,100. The market at 3:30 AM is still swinging back and forth. It surged to nearly 90,000 in the early morning but then quickly retreated, completely stopping at the 0.786 Fibonacci retracement level, with all positions below 85,500 exited. The market is now trying to recover by moving north; how high it can go depends on the upcoming performance. The first target is around 87,000, and the rest will be left to market rhythm.

Looking at the daily chart, before this report, the highest touched 90,000, and the lowest dropped to 85,000. The EMA trend indicator has already turned downward, forming a clear bearish divergence pattern. Especially, EMA15 established a new resistance at the 90,000 level. The MACD is increasing in volume but gradually shrinking, with DIF and DEA beginning to tighten. More painfully, the lower Bollinger Band at 86,700 has been broken, and the candlestick is now swinging outside the channel. Logically, at least a retest of the channel is needed for comfort, so if the price bounces back after breaking the Bollinger Band and the northward attempt is effective, it’s not a big problem—just set stop-losses and defend.

The four-hour candlestick chart is more straightforward. The EMA trend has turned downward, and after the candlestick broke below the trendline, it continued southward, finally hitting the bottom of the middle band range around 85,500 for sideways consolidation. MACD is decreasing in volume but accumulating positions, with DIF and DEA opening wider and continuing downward. The lower Bollinger Band at 87,450 was also broken, and the candlestick is now outside the channel. This position is already in an extremely oversold area, with impulses for a rebound at any moment. If the northward attempt is effective, hold with confidence; if it breaks the previous low again, cut losses decisively—don’t be greedy.

Short-term trading ideas (reiterating: markets are not absolute, stop-loss first, small losses for bigger gains is the rule):

**Bullish scenario**: Try positions in the 85,500 to 85,000 range, with a 500-point stop-loss, targeting 86,000 to 86,500, and if broken, look at 87,000 to 87,500.

**Bearish scenario**: Try positions in the 87,500 to 88,000 range, with a 500-point stop-loss, targeting 87,000 to 86,500, and if broken, look at 86,000 to 85,500.

Real-time market data is always the primary reference. This analysis is for strategic reference only. Specific operations should be adjusted flexibly according to the current market conditions, with risks borne by oneself.