Bitcoin recently bounced after nearing a critical $86,100 support level that forms the neckline of a bearish head-and-shoulders pattern. On-chain data showing a sharp drop in coin movement and a hidden bullish divergence in RSI suggest selling pressure is fading, but institutional demand remains weak as Bitcoin ETFs see outflows. The risk of a breakdown remains, with a confirmed close below $86,100 potentially triggering a further decline toward $78,000, while upside resistance lies near $90,550 and $97,930.