【Market Observation】

Bitcoin dropped to around 89588 this afternoon and is currently lingering in a weak market structure. From the 4-hour chart, the market shows consecutive bearish candles probing lower, with the Bollinger Bands stretched wide open and both upper and lower bands continuing to extend outward. Although the price showed a rebound correction after breaking below the lower band, this rebound momentum is clearly insufficient, and overall the bears are still in control.

The 1-hour level details are even more apparent—BTC is running in a standard downward channel. Since this afternoon's drop, all three KDJ values are compressed at low levels with no movement, and they haven't yet formed a golden cross; the three RSI lines are tightly stuck below 40, not even entering the oversold zone, indicating there's theoretically more downside room. The MACD is even more straightforward, with both DIF and DEA below the zero line, and the negative values continuing to widen—the bearish trend shows no signs of weakening.

【Key Points】

The critical question now is whether price can effectively break through the middle band resistance. If the rebound stalls at the middle band, it will likely continue probing the 89000-88500 support zone. Conversely, only if we unexpectedly break above the middle band could the market enter a repair consolidation mode.

【Trading Strategy】

Evening approach: maintain short on rebounds as the main strategy, focusing on performance at resistance levels.

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

Trade with the trend, don't chase or rush.