Main trend remains bearish: The large moving average (yellow line) is sloping downward, and price is still below it, indicating strong selling pressure.

Price is consolidating around the 88,000 area after a sharp drop. Candles are overlapping, showing indecision.
The bands/envelope (purple) are starting to contract, which suggests low volatility and usually precedes a strong move.
Key support levels:
86,500 – 85,000
If broken, price could drop toward 83,500 – 82,000
Nearest resistance levels:
89,800 – 90,500
A strong H4 close above this zone could trigger a bullish pullback toward 93k+
Conclusion:
As long as BTC stays below the major moving average and fails to break above 90k, the bias remains sell on rallies or wait for confirmation. Long positions are safer only after a clear H4 structure break.
If you want, I can also provide:
Entry–SL–TP scenarios
Scalping vs swing outlook
Confirmation using RSI or volume