Recently, Bitcoin's performance at key price levels has sparked quite a bit of discussion. Let's analyze the current market situation from several important technical perspectives.

**The Attraction of Gap Fillings**

In the $88,000 to $88,500 range, there is an unfilled gap in the CME futures market. Historically, such gaps tend to be "filled" as prices are drawn back to them, much like a magnetic point attracting the market. This is not baseless speculation but based on extensive historical market data observations. If the price indeed drops to fill this gap, it will be a critical moment to test the true strength of the $88,000 support level and whether the Wyckoff accumulation pattern is truly forming. Conversely, if the market rebounds without filling this gap, that gap could become an important bottom support in a future cycle.

**Signals from the Wyckoff Pattern**

Looking at the 4-hour chart, after Bitcoin broke through the resistance zone from $88,000 to $89,500 in mid-December 2025, it is now undergoing a low-volume retest. What does this mean? It indicates that the selling pressure is not fierce, and there may be funds quietly supporting the level. Once this Wyckoff accumulation pattern is confirmed, historical experience suggests there is a 60-70% probability of initiating a new upward cycle, targeting the $92,000 to $100,000 range.

But don’t get too excited—if a high-volume drop breaks below $88,000, this bullish pattern will be invalidated, and the market could deepen its correction toward around $85,000.

**The Reference Role of Moving Averages**

From the moving average system, the 50-day moving average is currently around $89,000. This line plays an important reference role in the current market structure. Similar key moving average levels often serve as important reference points for institutional fund orders.