BTC on the hourly timeframe appears as a rebound within a correction: short-term moderately bullish, medium-term pressure from above remains.

1. Price ~86,964 USD is above the 7/30-hour moving averages and pivot, but below the 200-hour moving average, indicating a local rebound within a correction.

2. Immediate support is at 86,300–85,500 USD, resistance at 87,500–88,200 USD, with a key seller zone around 89,400 USD.

3. RSI is neutral, MACD is slightly negative, so a consolidation and chop scenario is more likely than a sharp trend movement.

Overall Trend and Timeframe

Analysis based on BTC on the 1-hour chart over the past 7 days.

1. Current price estimate: around 86,963.98 USD
2. Change over 24 hours is about +0.19%, over 7 days about **−5.8%**, indicating a correction week after attempts to rise to 92–89k USD.

3. Historical points show movement from ~92.4k USD down to ~85.9k USD, then multiple rebounds in the 87–89k USD zone, but with decreasing highs each time.

**What does this mean:** medium-term BTC is in a corrective decline, but currently experiencing a local rebound and sideways movement, not a new strong impulse.

Moving Averages and Trend Levels

Key 1h moving averages:

1. **SMA 7h ≈ 85,704.96 USD**, **SMA 30h ≈ 86,511.73 USD**, **SMA 200h ≈ 88,824.99 USD**.

2. Price is now **above the 7h and 30h SMAs**, but **below the 200h SMA**.

3. Exponential averages (EMA 7h ≈ 85,903.96 USD, EMA 30h ≈ 86,376.39 USD, EMA 200h ≈ 88,313.75 USD) behave similarly: short- and medium-term tilt is more bullish, long-term still faces resistance above.

**What does this mean:**

The short-term trend on the hourly chart has turned in favor of bulls (rebound and attempt to stay above local averages), but the overall supply zone remains around **88–89k USD**, where the 200-hour average is located.

RSI and MACD: Momentum and Overbought Conditions

Momentum indicators on 1h look like:

1. **RSI 7 ≈ 62.26**, **RSI 14 ≈ 53.57**, **RSI 21 ≈ 51.41**. These are closer to neutral/slightly bullish zones, far from strong overbought levels (70+).

2. **MACD line ≈ −310.16**, **Signal line ≈ −283.62**, **Histogram ≈ −26.54**. MACD is slightly below zero, histogram is mildly negative.

3. This combination often indicates waning correction and consolidation mode: aggressive sellers are no longer dominant, but there is no strong buying impulse yet.

**What does this mean:** Currently, the BTC market is more "digesting" the recent dip than showing a clear trend. In such zones, price often chops around averages with false breakouts of local levels.

Key Levels: Fibonacci, Pivot, Support/Resistance

Based on recent Fibonacci swings:

1. Swing high around **89,412.66 USD**, swing low around **84,436.32 USD**.

2. Main Fibonacci retracement levels:

1. 23.6% ≈ **88,238.24 USD**

2. 38.2% ≈ **87,511.70 USD**

3. 50.0% ≈ **86,924.49 USD**

4. 61.8% ≈ **86,337.28 USD**

5. 78.6% ≈ **85,501.25 USD**

3. Current price is **very close to the 50% Fibonacci level (≈86,924 USD)** and slightly above the central **pivot ≈ 86,614.23 USD**.

**Practical view:**

1. Support zone on the hourly chart:

1. First – **86,337 USD** (61.8% Fibonacci).

2. Stronger – **85,501 USD** (78.6% Fibonacci) and the area of recent lows around 85.6–85.9k USD.

2. Resistance zone:

1. Nearest – **87,512 USD** (38.2% Fibonacci).

2. Next – **88,238 USD** and swing high around **89,400 USD**, where Fibonacci levels and long-term averages converge.

3. As long as the price **stays above the pivot 86,614 USD**, and does not break below 87.5–88.2k USD, a sideways scenario with frequent rebounds from these levels is likely.

**What does this mean:**

Traders often see **86.3–85.5k USD** as a zone where a rebound may repeat, and **87.5–89.4k USD** as a range where profit-taking and seller activity are logical, until a confident upward breakout on volume occurs.

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Currently, BTC on the hourly chart trades in the middle of the recent range, slightly above the pivot and short-term averages, but below the key long-term resistance zone of 88–89k USD. This looks like a consolidation phase after correction: a **break below 85.5k USD** with increased volume would strengthen the bearish scenario, while a decisive move **above 89.4k USD** would open the way to new highs within the range.

Confidence: High, as conclusions are based on current BTC prices, 7-day history, and standard indicators (SMA/EMA, RSI, MACD, Fibonacci, pivot).