【Market Observation】

Bitcoin dropped to around 89588 this afternoon and is currently hovering in a weak consolidation pattern. From the 4-hour chart, consecutive bearish candles are probing lower, with the Bollinger Bands widening significantly and both upper and lower rails extending outward. Although price rebounded for a correction after breaking below the lower rail, this rebound momentum is clearly insufficient, with bears remaining in control overall.

The 1-hour timeframe shows clearer details—BTC is trading within a standard downtrend channel. Since this afternoon's sharp selloff, KDJ values are all pinned at lower levels with no movement, and haven't had a chance to form a bullish crossover yet; the three RSI lines are tightly pressed below 40, not even entering oversold territory, indicating there is theoretically more downside room. The MACD is even more straightforward—DIF and DEA are both below the zero line, with negative values continuing to widen, showing no signs of trend weakness.

【Key Points】

The critical question now is whether price can effectively break above the midline resistance. If the rebound fails to hold above the midline, it will likely continue down to explore the 89000-88500 support zone. Conversely, as long as price unexpectedly closes above the midline, the market could enter a repair oscillation mode.

【Trading Strategy】

Evening bias maintains short on rebounds as the main approach, closely monitoring performance at resistance zones.

BTC: Can short around 90500, targeting 89000
ETH: Can short around 3130, targeting 3020

Follow the trend, don't chase or rush.