Affected by the US non-farm payroll data below expectations, the Bitcoin market performance is weak. Yesterday, BTC rebounded to around 92,000 but failed to hold, then fell back to around 90,500 and oscillated repeatedly. This trend fully exposes the issue of insufficient bullish strength.

From a technical perspective, the short-term upward trendline has been broken, and both the 5-day and 10-day moving averages are suppressing the upward space. The MACD indicator has formed a death cross signal, with the green energy bars continuously enlarging, indicating a clear weakness signal. The RSI value hovers around 42, slipping into the weak zone, further confirming the dominance of the bears.

Switching to the 4-hour chart, although BTC found support at the lower Bollinger Band at 89,262 and rebounded somewhat, the trading volume failed to follow through effectively. This lack of volume is a fatal flaw for the rebound. Meanwhile, the Bollinger Bands are in a converging state, with multiple moving averages forming a pressure zone above. In such a technical environment, any rebound is prone to failure, carrying significant risk.

Operational suggestion: Consider short positions in the 91,500-92,000 range, with initial targets at 90,000-89,000. Maintain a cautious attitude in the short term, waiting for clearer confirmation signals of the trend.