The current situation of Bitcoin maintains a bear-dominated pattern. After a brief correction in the daily line under continuous downward movement, it has restarted its decline, facing a deep test at the key support zone of 86000. Although a temporary stop in the decline was achieved at this position, the rebound momentum remains relatively weak, failing to form an effective breakthrough, and overall presents a bear-dominated oscillation and consolidation trend.

From the current market observation, the process of price decline has significantly released trading volume, with clear signs of capital outflow; during the rebound phase, the trading volume shrinks, and the willingness of bulls to support is insufficient. The market is dominated by risk aversion, with selling pressure quickly gathering at high points. The competition between bulls and bears has entered a heated stage, and the margin for error in operations is narrowing. A slight hesitation or deviation in judgment may lead to a passive situation.

From a technical perspective, the upper area of 89000 has built a strong resistance defense line. If a significant breakthrough cannot be achieved, a technical rebound may become a good opportunity for a bear layout. As the core pivot of the contest between bulls and bears, if there is still no substantial rebound after consolidation, the effectiveness of support will gradually weaken; once lost, bears may initiate further downward space. The current market is in a stage of oscillation and accumulation under a bear trend, with limited rebound height and a risk of downward movement in price focus. In terms of operational strategy, it is recommended to mainly short on rebounds under pressure, closely monitor the effectiveness of the breakthrough at the 89000 resistance level and the attack and defense transition at the 86000 support level, patiently wait for the release of bear momentum, and strictly control positions to respond to potential volatility. $ETH #加密市场观察