From the current market situation, Bitcoin has experienced a waterfall decline in the morning and the overall trend has shifted to a clear bearish pattern. The price's rebound has consistently been held back by the 90,000 USD level, and it has formed a narrow trading range below this level, indicating weak bullish momentum and a severe lack of market buying confidence. The slight pullback after the US stock market opened last night further confirms the exhaustion of the rebound momentum. The current price hovers around 89,700, with the focus gradually shifting downward.

Technically, the 1-hour and 4-hour moving average systems are both in a bearish alignment, and the price continues to trade below all major moving averages. The 90,000-90,500 USD zone has formed a short-term strong resistance area. If the price cannot break through this level with increased volume, the probability of consolidation and further decline will significantly increase. Key support levels to watch are around yesterday's low of 89,400. Once this level is broken, the downside space could further open up to the 88,000-87,500 zone. #美联储降息预测 $BTC

Overall, the market has not seen a strong rebound after the sharp decline but has instead experienced weak consolidation as a form of correction, which is a typical characteristic of a continued bearish trend. In terms of trading strategy, it is recommended to mainly operate with short positions on rebounds. Pay attention to signs of resistance when the price rebounds to the 90,000-90,300 USD range. If signs of stagnation appear, consider gradually entering short positions, targeting a break below 89,400. Risk control can be set above 90,500.