#大户持仓动态 Looking at the chart, the recent rebound over the past couple of days is a classic example of "lack of volume leading to pitfalls."

On the daily chart, Bitcoin remains firmly suppressed by the downward channel formed after the October high ($126,000). The death cross of the 5-day and 10-day moving averages has not been repaired, and although the MACD bearish signal has decreased in volume, there are no signs of reversal. The Relative Strength Index is stuck around 43, a neutral to slightly weak position, oscillating back and forth — in other words, the medium-term weakness has not changed.

Looking at the 4-hour chart makes it even more painful. There have been three rebounds before, each hitting a wall at the 88,000 level. Even when the KDJ indicator showed a bullish crossover at low levels, traders were still excited, but the price just couldn't break through that barrier. What's worse, each rebound was not supported by increased trading volume — a typical sign of "recovery without real backing," and the bulls' strength has long been exhausted.

On the trading front, Bitcoin can consider short positions within the 87,500 to 88,000 range, targeting support levels around 86,000 to 85,500.