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Bitcoin is experiencing short-term fluctuations around $87,000, and it has now reached a critical technical decision point.
From the resistance level perspective, the range of 88,500 to 89,000 is a previous dense trading zone and also the defensive line maintained by the bears. Breaking through this pressure zone is not easy and requires sufficient trading volume to be considered valid. If a smooth breakthrough occurs, the subsequent target could be above $90,000.
Looking downward, $86,500 forms the current neckline support level. Once this level is broken with increased volume, it may face a larger correction. In the short term, investors should focus on the performance of these two critical points, as the volume-price coordination will determine the true short-term trend of Bitcoin.