As I see it, the price of $87,807.31 confirms that Bitcoin has broken key supports ($90,000 and $88,500) and is in a phase of deep correction. This downward movement puts tremendous pressure on the entire market, including Ethereum
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Technical analysis of Bitcoin (BTC/USDT)
• Current price (Binance): $87,807.31 (at the time of writing)
📉 Market overview
Bitcoin is trading in the bearish zone. Losing the $88,000 level is a worrying signal for short-term traders. The asset is testing the liquidity zone that formed during the previous rally. There is currently a struggle to hold the $87,500 level. If this level does not hold, the market structure may shift from corrective to a full-fledged downward trend.
• Overall trend: Bearish, testing critical support.
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📊 Technical indicators
● RSI (14) 36.4 🔴
● MACD (12, 26) -850.5 🔴
● EMA (20) $90,200 🔴
● SMA (50) $89,450 🔴
● Stochastic 14.2 🟢
● Momentum -2,450 🔴
( 🟢 — Oversold/Potential rebound, 🔴 — Selling/Drop, ⚪ — Neutral)
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🔍 Detailed analysis
1. Moving Averages (MA)
Price $87,807 is confidently below the 50-day SMA ($89,450) and 20-day EMA ($90,200).
This means that the medium-term trend is broken down. Now any rise to the $89,500 level will meet strong selling resistance from traders looking to exit at breakeven.
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2. Oscillators
● RSI (36.4): Rapidly declining towards the oversold zone (30). Selling pressure is still high, but we are approaching the point where sales may exhaust.
● Stochastic (14.2): In the extreme oversold zone (below 20). Like with ETH and SOL, this is the only strong bullish argument right now. The market is "oversold" downwards, increasing the likelihood of a sharp rebound (Short Squeeze) in the coming hours.
● MACD: The histogram is red and expanding downwards. The downward momentum is strong.
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3. Support and resistance levels
●(Resistance zones:
• $88,500: Nearest level (former support, now resistance).
• $89,500 (SMA 50): Key level for trend change.
•($90,000: Psychological barrier.
Support zones (Support):
• $87,500 – $87,000: Current zone of protection. If the price consolidates below $87k, panic will increase.
• $85,000: Next major psychological stop.
• $83,500: Strong demand zone (Demand Zone).
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💡 Movement scenarios
Bearish scenario (Continuation of the dump):
If Bitcoin closes a 4-hour candle below $87,000, it will open the floodgates for a drop to $85,000. This will have a very negative impact on Ethereum (pulling it below $2,900) and Solana (below $126).
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Bullish scenario (V-shaped rebound):
Due to oversold conditions on Stochastic, a sharp buyback is possible. If the price returns above $88,500, the target will be a retest of $90,000.
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Summary:
The entire market (BTC, ETH, SOL) is currently in synchronous correction and testing the bottom.
• BTC: Holds $87k.
• ETH: Holds $2,950.
• SOL: Holds $126.
This is the moment of maximum tension. If BTC breaks $87,000 downwards, other altcoins will follow.
