Good morning everyone. Bitcoin started to pull back after reaching the 88,000 psychological level, forming a bearish engulfing reversal pattern on the daily chart. The selling pressure at high levels is particularly concentrated, and buying interest cannot keep up. From the perspective of volume and price action, this bearish candle's volume increased by 30% compared to the previous day, fully confirming the presence of a bearish sell-off.
The moving average system has already formed a clear bearish alignment, with the MA7 short-term moving average exerting obvious resistance. Each rebound to