#以太坊行情解读 BTC afternoon market analysis, how many pullbacks can this wave of fall achieve?

Today, Bitcoin started to pullback from the intraday high of 88904.9, and is currently at 87100.7, basically undergoing a step-like fall. The decline in the afternoon is still expanding, having tested the low of 86976.6. It seems that the short-term bears are indeed gaining the upper hand.

**Key Technical Signals**

The hourly chart shows a series of consecutive bearish candles, with key levels like 88000 and 87500 already breached. The moving average system appears to be in a bearish arrangement, and the short-term downtrend is very clear. Looking down, 87000 is an immediate support point. If this level breaks, it may continue to probe towards the range of 86500 or even 86000. Conversely, looking upwards, we first observe 87500, but the real strong resistance is still around 88000.

During the fall, the volume of the bearish candlesticks is increasing, indicating a strong desire to escape from the sell-off. In this case, the market sentiment is clearly heating up.

**Possible Strategies for the Afternoon**

The most probable scenario is a weak fluctuation between 87000 and 87500. If the 87000 defense line is breached, then we will continue to test the space around 86500-86000. On the contrary, if it holds above 87000, there might be a small rebound, but the strength of the rebound will likely be capped by the resistance zone of 87500-88000.

Of course, if something major suddenly emerges—such as changes in macro policies or funding conditions—the price could quickly rebound back to 88000-89000. However, from a technical perspective, this situation lacks support and the probability is low.

**Advice for Traders**

For short-term traders, don't rush to short. Wait for the support level at 87000 to stabilize before making a decision. If it rebounds to the resistance zone of 87500-88000, you can try shorting with a small position, but make sure to set your stop-loss properly.

Long-term investors should remain inactive for now, waiting for the pullback to lose strength or for a clear reversal signal before considering building positions.

**Risk Warning**: The volatility of cryptocurrencies is no joke. This analysis mainly focuses on technical aspects, but when it comes to actual operation, macro conditions and capital flows must also be taken into account. Risk control in this area must not be taken lightly.

$BTC