The price encountered multiple rejections at the horizontal resistance zone, forming several lower highs and reversal candles, indicating strong selling pressure. This area acts as a distribution area.

As Bitcoin fails to reclaim the resistance area, the market may move sideways before retracing, opening the way for a continuation of the downward trend. The adjustment target is 86,800-87,000 points, corresponding to the previous callback area.

The recommendation is to focus on selling higher; unless the price closes strongly above the resistance area, the bearish scenario will not go away.

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