In the early morning, the Bitcoin market overall maintained a wide range of fluctuations, with intraday volatility narrowing, presenting a range consolidation pattern. Currently, the coin price is running around 87400 USD, with the overall range slightly down from the previous day.
On the daily chart, the price has rebounded multiple times but has failed to effectively hold above the 88000 USD mark. The Bollinger Bands are opening downward, and all moving averages are in a bearish arrangement. The five-day moving average has moved down to around 90000 USD, forming short-term pressure and continuing to move down slowly. If there is no strong rebound during the day, the price may still have further downside potential. The indicators overall lean towards bearish volume, and the intraday trend is expected to remain primarily bearish and volatile. It is recommended to focus on setting up short positions after a rebound, with light positions near key support combined with long positions.
The 4-hour chart shows that after a downward probe, there are signs of a halt in decline, but the current bearish trend has not yet reversed. Support levels are gradually and slowly rising, bearish volume is somewhat contracting, and the coin price is entering a phase of correction. In the short term, pay attention to the strength of support around 87000 USD, as the price may consolidate or pull back based on this level. The correction pattern depends on the depth of the pullback: a large amplitude would constitute a deep adjustment, while a limited amplitude would transition to horizontal consolidation. Strategically, consider shorting in batches at high levels and cautiously trying for longs at low levels, with attention to risk control.
