Brothers and sisters, yesterday Bitcoin reversed and looked bearish. Are you all already drooling?

The price is probing the 86,000 support level, stopping the decline and bouncing back, with a maximum rebound to the 88,000 level. The current price is in a bottoming oscillation downward trend.

On the four-hour chart, there was a short-term rebound after the bottoming, with decreasing bearish volume, but the price remains within the middle and lower bands. The short-term middle band serves as a resistance point. To confirm an entry signal, we need to see whether the middle band can withstand the pressure of this pullback and rebound.

On the daily chart, five consecutive bearish candles accompanied by small positive candles and doji stars continue to form a large bearish engulfing pattern, with bearish volume increasing sharply. From a higher timeframe perspective, the trend still points downward, so we maintain a primarily short position with auxiliary entries during this low-range oscillation.

Intraday, we can continue to look for declines around the upper resistance of 88,300-88,500, with the target further down to 86,500. If the price breaks below and stabilizes, we will watch the 84,000 support level.