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Bitcoin moved strongly early this week, hitting a high during Monday's US trading session near $87,375. This level coincided with the 8/8 Murray level ($87,500), which represents strong resistance.
From this level, we saw a sharp technical correction, and Bitcoin is likely to continue falling until it reaches the 7/8 Murray level around $84,375.
Bitcoin has strong underlying momentum, so a pullback to around $84,000 could be seen as an opportunity to target $87,500. The instrument could even reach the upper band of the uptrend channel around $88,548.
A decisive break below $83,000 could change the scenario, and we could expect a decline toward the 6/8 Murray level around $81,250, potentially reaching the 5/8 Murray level around $78,125.
The key $85,000 level could also prove to be strong support, as it formed a barrier in December 2025. Therefore, a technical bounce above $85,000 could be seen as an opportunity to take long positions.
On the H4 chart, we can see that the Eagle indicator is in overbought territory, so technically we could expect a more prolonged technical correction to occur over the next few days; however, we could still expect Bitcoin to test the $87,500 and $88,500 levels again, and after that, a technical correction could occur.
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