Looking at the 4-hour chart of Bitcoin, you can feel the current struggle. The price is repeatedly tugging around 90,500, sticking tightly to the lower Bollinger Band, with no sign of breaking upward. Even more concerning, the Bollinger Bands are widening—middle band downward, upper band upward—this is a classic bearish signal, indicating the market still has room to move downward.

Looking back at how this wave of market movement unfolded: the coin price once surged to around 94,700 with high spirits, but then a sustained correction completely dampened the momentum. After breaking below the middle band, the decline accelerated, although there were a few rebounds in between, they didn't change the overall downward trend. The candlestick chart makes this clear—far more bearish candles than bullish ones, and the bodies are quite substantial, showing the strength of the bears.

However, there's a detail worth noting: recently, the bearish volume has started to show signs of exhaustion, and the decline has noticeably slowed down, hinting that the market may be entering a consolidation phase.

Next, keep a close eye on the 90,000 level. If it holds, the rebound could reach around 91,500; if it breaks, support might be found at 89,000-88,500. Also, don't forget to watch Ethereum's performance—the 3100 level is the short-term dividing line between bulls and bears.