$BTC is trading around 87,406 after a sharp cascade from 87,861 into 87,171, where buyers defended aggressively, printing a long lower wick and absorbing liquidity. The rebound lacked full continuation volume, showing indecision under key MAs—MA5 ~87,476, MA10 ~87,476, MA30 ~87,537—now flattening and acting as dynamic resistance. The structure hints that the engine room is still balancing risk after liquidation pressure. A clean reclaim and hold above MA30 could unlock 87,993 retest, but until then price is trapped in a tight deterministic range. Stop loss below 87,100 protects from another latency shock. Targets: 87,993 → 88,200 → 88,450.