Good morning, the first pullback in 8 days; the pullback range is acceptable $BTC

The crypto market remains under pressure on October 7, 2026. As of 03:35 UTC, BTC is around $86,000 (−0.25%), while ETH is at $2,700 (−0.64%). Yesterday, Bitcoin fell 0.6% to $85,297 amid a strong dollar and geopolitical tensions. Additionally, ETH ETFs lost around $206 million over five sessions. Volatility persists.

BTC death cross overhead—can 85,500 hold? Market overview: BTC is currently at 85,516.8, down slightly by 0.36% over 24h, with a high of 86,698 and a low of 85,136. Volume has contracted to 12,600 BTC, showing a typical low-volume decline. Technical analysis: The 1-hour RSI is only 34.62, approaching oversold territory but showing no divergence. The MACD has formed a death cross, with DIF deeply below DEA, clearly indicating a bearish alignment. MA20 and MA50 are both above the price, creating resistance on any rebound. The 4-hour RSI is 50.91, neutral to weak, and the MACD has also formed a death cross. Although the daily chart remains bullishly aligned, a MACD death cross has appeared, with MA20 (84,312) as the last line of defense. The lower Bollinger Band at 85,112 is within reach. Once it breaks decisively, the 76,296 support level may be repriced by the market—don’t rush to short; wait for confirmation of the breakdown. Fundamentals: The funding rate is slightly negative at -0.0008%, with bears holding a slight advantage. The long-short ratio and position ratio for large-holder accounts are 1.18 and 1.63, respectively, showing that longs remain crowded. This is a hidden risk—the long-short ratio for retail accounts is also skewed long at 1.11, while active sell volume of 1,826 exceeds buy volume of 1,422, indicating that selling pressure is intensifying. As long positions remain, wicks will continue; chasing longs at high levels carries considerable risk. Today’s focus: The Fear and Greed Index is 71, in the greed zone, with sentiment diverging from price. Trading bias: bearish, but mainly wait and see. If 85,112 fails to hold, a small short position can be considered; reduce positions if the price rebounds to the 85,800–86,000 resistance zone, and do not chase longs. What do you think? Let’s discuss in the comments. Updated daily at 8:00—follow to stay on track. #BTC #比特币行情 #技术分析 #Futures