#BTC对标贵金属的竞争格局 Recently, after touching the peak near 88400, a pullback has occurred, and it is currently hovering around 87300. The key resistance at 88500 remains quite stubborn, as it has been suppressed every time it tries to break through. The fall from the high point of 88400 is about 1100 points, and the selling pressure is indeed accumulating.

From the K-line pattern, the recent high-level surge and pullback looks a bit fierce. The previously supportive range of 87300-87500 has now turned into a resistance level. If the rebound can't break through this area, we will have to continue looking for support downwards, and the range of 86500-86800 may become the next defense line. If even this fails to hold, it could directly test the psychological levels of 85500 or even 85000.

From a trading perspective, consider lightly shorting in the 87800-88000 range, and don't set the stop loss too tight; above 88800 is relatively safe. Now, we need to closely watch two points: first, whether the price can hold below 87500, and second, if the support at 86500 is strong enough. To be honest, it's currently leaning bearish, but it can't be classified as a trending decline yet; the risk of repeated fluctuations at high levels is not small, so we need to be cautious.