12.15 Morning

After a narrow range fluctuation over the weekend, Bitcoin broke below the key level of 90,000 last night, and has been oscillating downward, officially entering a technical correction phase. Currently, it is weakly consolidating around 88,000.

The daily chart shows three consecutive bearish candles, continuously testing the lower band of the Bollinger Bands; although a doji star appears, the bearish trend remains unchanged, and overall sentiment is still under pressure and weak.

On the four-hour chart, after a brief stabilization at the middle band, the rebound is weak, with four consecutive bearish candles accelerating downward; moving averages are in a bearish alignment, and indicators are weakening simultaneously, leaving room for further downside in the short term.

The trading strategy mainly focuses on shorting during rebounds:

Bitcoin: Rebound to around 90,000, with targets of 87,500-86,000. If broken, continue to watch for a drop to 85,000.