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Bitcoin has been fluctuating between 90,000 and 87,000 this week, marking the third time it has attempted to break the 90,000 level. Market order pressure is evident, with continuous selling, and psychological barriers often just a hair's breadth away from being breached—although on Friday, despite a bullish outlook on the 90,500 resistance level, the actual entry was delayed by 100 points, reflecting market reality.
Regarding short-term trends, the market has once again exhibited a typical "drawing door" pattern. From 90,000 down to 87,000, such declines have been tested multiple times, and the 86,600 level below has been touched for the third time. Although a definitive breakdown hasn't occurred yet, a significant chance exists that if US stocks open lower, this level won't hold.
Looking upward, the 89,200-89,500 range warrants close attention, as the rebound momentum will gradually weaken. Focusing around key round numbers is a strategy—placing stop-loss orders above the high at 91,000. A breakout above this would signal a structural reversal.
On the downside, support levels at 86,000 and 85,000 are worth entering in stages. It is advisable to reduce leverage risk exposure accordingly. Set stop-loss at the previous low of 84,500; if the target reaches 87,500-89,000, the profit will be more secure.