Bitcoin's market continues to show weak consolidation, with a series of daily declines highlighting the dominance of bearish control. After a brief correction, it resumed its downward trend, testing the middle Bollinger band and the key support line at 86000. Although there is temporary support, there has not been a strong rebound, and the overall pattern is characterized by bearish-led fluctuations. The volume structure indicates that the decline is accompanied by an increase in volume, while the rebound shows a decrease in volume, reflecting a strong market risk aversion and persistent selling pressure at high levels. The upper level of 89000 has formed a strong resistance area; if a volume breakout cannot be achieved, a technical pullback may become an opportunity for a bearish setup. 86000 serves as a watershed for the bulls and bears; if it remains in a consolidation phase without an effective rebound, the support will gradually weaken. Once breached, bears may open further downward space. The current market is in a consolidation phase under a bearish trend, with limited rebound potential, and there is a risk of price shifting downward. In terms of operations, it is necessary to adhere to a strategy of short selling under pressure from rebounds, closely tracking the effectiveness of the breakout at the 89000 resistance level and the defensive transition at the 86000 support level, patiently waiting for further release of bearish momentum. $ETH #比特币流动性