Bitcoin (BTC/USDT) is currently trading around $87,500, showing short-term bearish pressure after a strong rejection near the $88,800–$89,000 resistance zone. On the 15-minute timeframe, BTC experienced a sharp pullback, dropping to a local low of $87,304 before attempting a modest bounce.
The recent sell-off was accompanied by increased volume, indicating aggressive profit-taking after the failed breakout. Price has also moved below short-term moving averages, signaling weakening bullish momentum. The RSI (6) near 35 suggests BTC is approaching oversold territory, which could attract short-term buyers if selling pressure slows.
From a technical perspective, $87,300–$87,200 is acting as an important intraday support. A breakdown below this level could open the door for further downside toward $86,800. On the upside, bulls need to reclaim $88,000 to restore confidence and attempt another push toward the $89K resistance.
Overall, Bitcoin remains in a corrective phase in the short term. Traders should watch volume and RSI closely for signs of a potential rebound, while maintaining caution until BTC reclaims key resistance levels.
