Over the weekend, Bitcoin gained strong upward momentum above $87,500, reaching the resistance zone where the 200 EMA is located. This level coincided with the top of the downtrend channel located at $90,150.

After reaching the resistance zone of $90,000, Bitcoin underwent a technical correction and is now below 2/8 Murray, which indicates that it could continue its fall in the coming days.

If Bitcoin recovers in the coming hours and consolidates above $87,700, the outlook could be positive, and we could look for opportunities to open long positions with a target at $89,900 around the 200 EMA.

A sharp break of the downtrend channel formed since early December could be seen as an opportunity to take long positions with targets at 3/8 Murray located around $93,750, and even above this area, Bitcoin could reach the psychological level of $100,000.

If bearish pressure prevails and Bitcoin falls below $87,000, it is likely to continue its decline and could reach $86,200, $84,530, the low of December 18, and finally the 1/8 Murray around $81,250.