Bitcoin's technical indicators suggest a short-term bullish outlook as the 4-hour chart reveals a crossover of the 5-day moving average (MA5) with the 60-day moving average (MA60), alongside a MACD buy signal. The presence of a morning star pattern and support at $86,500 indicates potential upward movement towards $89,500 and $92,000. However, a breakdown below $86,500 could signal a reversal. The MACD underwater crossover further supports the bullish trend.