Early morning Bitcoin sharply fell below the key psychological level of $90,000, accelerating downward, with the lowest touching around $87,900. Although there was a slight rebound to near $88,200 afterward, the overall pattern shows a "volume-driven decline and a decrease in volume during the rebound," characteristic of a bearish volume-price relationship. This indicates heavy selling pressure in the market and a clear lack of buying support from bulls.

From a technical perspective, the price has formed a daily-level "lower high and lower low" bearish pattern, and continues to operate below the main moving averages. The $89,000-$89,500 zone has now become a key resistance area. If a rebound cannot break through this zone with volume, the moving average system will act as a dynamic resistance, and bearish momentum could further strengthen. The short-term core risk lies in the validity of the previous support at $87,900. If this level is lost, the downside space may further open up to the $85,000-$86,000 range. $BTC

Bitcoin trading idea: Short in the $88,500-$88,800 range, target $87,000
Ethereum trading idea: Short in the $3,080-$3,100 range, target $3,000