Bitcoin's rebound after breaking below the key support level of 90,000 is essentially a technical retracement—giving the bulls one last chance to escape.

From the candlestick pattern, the 90,000 level is very critical. Once broken, it’s unlikely to stabilize in the short term. But more deadly is the shift in market psychology. Once the psychological defense line is breached, it often signals the start of an accelerated decline.

Right now, I’m focusing on whether the 85,000 region can hold. Honestly, if it can’t even hold here, the depth of this correction might exceed most people's expectations. Every major pullback in a bull market tends to cause fear—Is the bull market over? But interestingly, it’s often during these most anxious moments that the true bottom can be found.

The current situation is quite realistic. People holding coins are anxious, and those in cash are also conflicted. This state is actually very normal. The key is to distinguish whether this is a shakeout or a genuine correction.