Bullish momentum is weakening, and the bears have already taken the dominant position.

Yesterday, Bitcoin remained flat within a narrow range, then experienced a cliff-like drop at around 89,800. After reaching a low near 85,000, it weakly rebounded. The overall decline was nearly 4,800 points. Currently, the price hovers around 86,400, oscillating and recovering. Friends who followed the strategy of shorting yesterday have perfectly captured this downward move, once again achieving precise gains!

From a technical perspective, on the 4-hour chart, the price has broken below the lower Bollinger Band, which is opening downward. After breaking the band, there was no strong rebound, and the price remains under pressure near the lower band. The MACD indicator shows a continued death cross, with the green momentum bars expanding, indicating that the bearish force has not yet exhausted. Although the KDJ lines have entered oversold territory, no effective golden cross signal has formed, suggesting limited short-term rebound strength and caution against further downward testing.

It is recommended to short around 87,200 and 87,700, with the first target at 85,000, and a break below that to look toward 80,000.