【Market Watch】

Bitcoin dipped to around 89588 this afternoon and is currently hovering in a weak trend. From the 4-hour chart, the market shows continuous bearish candles probing lower, with the Bollinger Band significantly expanded, with both upper and lower bands continuously extending outward. Although price showed a bounce correction after breaking below the lower band, this rebound momentum is clearly insufficient, with the overall trend still controlled by the bears.

The 1-hour level details are more evident — BTC is trading within a standard downtrend channel. From this afternoon's selloff, all three KDJ values are pinned at low levels without movement, and haven't had time to form a golden cross yet; the three RSI lines are tightly stuck below 40, and haven't even entered oversold territory, indicating there is theoretically still downside room. The MACD is even more straightforward — both DIF and DEA are below the zero line, and negative values continue to widen, showing no signs of weakening in the downtrend.

【Key Points】

The most critical factor now is whether price can effectively break through the middle band resistance. If the bounce fails to hold above the middle band, it will basically continue probing toward the 89000-88500 support zone. Conversely, only an unexpected break above the middle band would allow the market to potentially enter a corrective consolidation mode.

【Trading Strategy】

Evening bias remains focused on selling bounces, with key attention on resistance performance.

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

Follow the trend, don't chase, don't rush.