【Market Observation】

Bitcoin briefly plunged to around 89588 at noon today and is currently still hovering in a weak pattern. From the 4-hour chart perspective, the market has been continuously exploring downward with red candles, and the Bollinger Bands have expanded significantly with both upper and lower bands continuously extending outward. Although price showed a rebound correction after breaking below the lower band, this rebound clearly lacks sufficient momentum, and overall the bears are in control.

The 1-hour level details are even more pronounced — BTC is trading within a standard downtrend channel. Since this selling wave started this afternoon, the KDJ three values are all pressed at low levels with no movement, and haven't had time to form a golden cross yet; the RSI three lines are tightly adhered below 40, not even entering the oversold zone yet, indicating there is theoretically more room for downside. The MACD is even more straightforward — both DIF and DEA are below the zero line, and the negative values continue to widen, showing no signs of the bearish trend weakening.

【Key Points】

The most critical issue now is whether price can effectively break through the middle band resistance. If the rebound stalls at the middle band, it will basically continue to explore the 89000-88500 support zone. Conversely, as long as we unexpectedly close above the middle band, the market could potentially enter a repair consolidation mode.

【Trading Strategy】

Evening outlook maintains selling on rebounds as the main approach, with focus on monitoring performance at resistance zones.

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

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