BTC Evening Technical Analysis:

From the hourly chart perspective, Bitcoin is currently consolidating in a range between 86,510 and 85,565. Whether it can break above 86,510 is the key—if it doesn't break through, it can only continue to oscillate; only by stabilizing above this level can the downtrend be reversed. Honestly, maintaining a non-declining trend is already good enough.

The support level has already been tested twice with downward attempts at 85,000, and both times it held. But if a third attempt fails to hold, then look directly at 84,000. No higher highs have appeared during the long sideways movement, and once it falls below 85,000, the probability of further decline will significantly increase.

In terms of trading strategy, it depends on volume: a volume breakout above 86,523 can be considered for long positions; if it drops below 85,627 with volume and then rebounds without follow-through, consider short positions. Remember, stop-loss is crucial.

On the hourly level, once it stabilizes above 86,523, look upward toward the 82,772 and 88,205 zones. But if it can't break above 86,523, then everything is pointless. Is anyone continuously long during yesterday's drop? That’s heartbreaking—always remember: you can't catch the bottom. The price at which you can buy is often not the true bottom.

The four-hour chart shows that the 85,551 level is very important; if it breaks below, look at the 84,120–83,415 range.

Switching to the daily chart, the triangle has been broken, and an M-top pattern has formed inside. The neckline of the M-top is at 86,052—if tomorrow’s closing price falls below this, the daily M-top is officially confirmed, and it will head toward the previous low at 80,602. Holding at the previous low to form a double bottom is acceptable, but if that level also cannot hold, I can't predict how far it will fall.

Finally, this is very important: the daily EMA20 has already been broken, and the slow, mid, and fast lines are starting to diverge downward, indicating that a bearish trend has formed on the daily level, with little doubt. To break this downtrend, it must return above the EMA20. Continue to monitor changes in volume.