Bitcoin has been continuously dropping since yesterday, and during the early morning, it reclaimed some lost ground. It is now oscillating around 88400, with insufficient buying power and an overall bearish trend still evident.

From a technical analysis perspective, the daily MACD histogram is contracting, and the RSI 7 has rebounded from the oversold zone of 32 to 41, indicating a weakening bearish momentum, but the Bollinger Bands are still opening downward, suggesting a bearish overall trend. On the 4-hour level, the TD sequence is close to a reversal node; if the price stabilizes above 90000 USD, it may trigger a short-term bullish counterattack. If it fails to break through, caution is needed for the risk of a second bottom test. On the 4-hour level, the downward channel is open, and bearish volume is being released, pushing the price down. Currently, volume has contracted, forming some repair, and the moving averages are converging, with small cycle rebounds unable to extend weaknesses. However, along with the demand for adjustment, the current market's bearish sentiment is still quite high, indicating a certain oscillation and consolidation mood.

Bitcoin: Short near 89500-90000, target at 87000

Ethereum: Short near 2510-2530, target at 2400