The recent market has indeed been quite fierce. Bitcoin is currently at $88,422, having dropped over 8.5% since yesterday, breaking through the 88,000 level. Besides the market’s own correction, many external factors are also contributing to the turbulence.

From a candlestick perspective, some interesting phenomena have emerged in the short term. The RSI has fallen to 16.11—what does this mean? It indicates severe overselling. Historically, whenever it reaches this level, a rebound is likely. The TD sequence also signals a buy (count: 10), suggesting a potential correction rally is brewing. The price is also close to the lower Bollinger Band at $88,742, which usually provides support.

However, on the flip side, risks are also significant. Trading volume has noticeably increased, indicating selling pressure is still being released. External uncertainties have not yet dissipated, which will continue to influence market sentiment. To confirm a bottom has truly formed, it’s essential to see if the price can effectively hold above $89,000.

In practical terms, in the short term, you can watch for oversold rebound opportunities, but it’s crucial to control your position size and set stop-losses properly. In this kind of market, mindset is very important—while others may be fearful, you can be greedy, but only if you still have ammunition. A safer approach is to wait until market sentiment truly stabilizes before taking action.