From a technical perspective, Bitcoin's current price is around 89,747, firmly suppressed by a pressure zone formed by multiple short-term moving averages, with a clear bearish arrangement. Although the RSI has already fallen to an extreme oversold level of 19.5, there is a key signal—MACD continues to form a death cross below the zero line and widens its divergence, which precisely indicates that the downward momentum has not yet exhausted.

From the combination of technical indicators, oversold conditions do not necessarily imply a rebound; the continued widening of the MACD death cross is a more reliable indicator of the true trend direction. Short-term traders can focus on the following levels: the key resistance above is at 90,512 (MA5), and the short-term target below is first at the 89,300 integer level, then further down at 88,000. For risk management, it is recommended to set the stop-loss above 92,110 to prevent sudden reversals.