Observation of the 1-hour chart shows that after the price of Bitcoin surged rapidly to the 88,881 level, it quickly formed a long upper shadow. This pattern clearly reveals heavy selling pressure above and indicates that the bullish momentum is showing signs of exhaustion.

Additionally, the sharp increase in price in the short term has caused the divergence between the price and the MA7 and MA30 moving averages to widen significantly. Technically, a correction is urgently needed to restore balance, with the MA30 support below becoming the primary level for a pullback.

Further analysis shows that after the surge, the body of the candlestick gradually narrows, and the bearish candlestick begins to cover the previous bullish candlestick. These series of pattern changes further confirm a short-term market shift from stagnation to decline. Therefore, it is recommended to focus on short positions and exercise caution in the current market.

Bitcoin: Around 89,000-89,500, with a rebound at 90,000, and a downside target of 88,000-86,600#BTC