Bitcoin has reached first resistance at $87,000, but a chart analyst is warning of a potential deeper pullback ahead. Higher timeframes are showing a bearish RSI divergence, while lower timeframes suggest one more push higher may still be needed before a top forms. The analyst is watching a backtest near $83,500 as a critical level. If Bitcoin holds that zone as support, another push toward $89,000 resistance could follow, though this move is expected to print bearish and potentially mark the top of the current rally phase. Should that top get confirmed, the minimum retrace target drops to around $70,000, with a new low considered “still valid and likely.”
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