Yesterday, after the coin price reached above the 90,000 mark as expected, it followed the rhythm of the US stock market and experienced a significant downward retracement. After testing the support at 87,000, it has currently shown some rebound recovery.

From the four-hour perspective of Bitcoin, the coin price quickly tested the pressure above the upper track and then fell rapidly, forming consecutive large bearish candles that dropped near the lower track. The current short-term downward trend has not shown any significant change, the Bollinger Bands are opening up and expanding rapidly, and the MACD histogram indicates that bearish momentum is continuing to strengthen. Overall, the candlestick pattern remains a stable downward structure, and the trend in the future still points towards further declines.

From the short-term hourly perspective, the coin price quickly fell to near the lower track after testing the resistance above 90,000 with consecutive bearish candles. Currently, the three lines of KDJ have once again formed a death cross and are diverging downwards. The Bollinger Bands are rapidly expanding downwards, opening up a downward channel for further declines in the coin price. The bearish outlook should be adopted for the future market, and participating in high short positions during rebounds is advisable.

Xiao Qing's operation suggestion ⬇️
88000-88500 is a 🈳, target looks towards around 86500.