The recent decline in Bitcoin is an accelerated trend following the breakdown of an ascending wedge, and it has now fallen below a key support level. Yesterday's slight rebound appeared strong but was, in fact, a trap for bulls; the rebound only touched 90,000 before quickly falling back, showing a clear lack of strength. Although short-term indicators suggest a decrease in bearish momentum and a potential low-level golden cross, the rebound space is limited, with strong resistance at 88,000 and weak support difficult to break below 87,000.

In terms of operations, it is recommended to continue shorting as the price rebounds to the 87,000-88,000 range, with a target aimed at the 83,000-80,000 area. It should be noted that no stop-loss signal has yet appeared on the daily chart; if the 80,000 level is lost, the downward target will point to 75,000. The overall trend remains downward, so do not blindly try to catch the bottom.