After the intense long-short battle last night, market volatility has temporarily contracted, but the overall structure has shifted to a weak state. Currently, the rebound from the low of 85,200 is limited in scope and weak in momentum, with prices facing resistance around 86,100. This is a typical technical correction after a decline and does not indicate a trend reversal. The bullish momentum is clearly insufficient, and the rebound is more likely due to short-term profit-taking by bears.

From a key level perspective, the 86,100 to 86,500 zone has formed an initial resistance, serving as a point to observe whether the bears still dominate the market. If the rebound stalls here or a bearish pattern appears, prices are likely to retest the early morning low of 85,200 support. Once this level is broken, the downside space will further open, with targets around 84,000-84,500. Overall, the early morning market can be viewed as a consolidation in a bearish trend. Until prices effectively break through and stabilize above 87,000, the bearish pattern remains unchanged. #GateLaunchpadKDK认购上线 $BTC

Bitcoin outlook: Short in the 86,500-87,000 range, target 85,000
Ethereum outlook: Short in the 2,850-2,880 range, target 2,780