Last night, Bitcoin's market showed a clear volatile downward trend. After the US stock market opened, the price quickly dropped to $87,500. Although it temporarily rebounded to around $88,800, it failed to break through effectively, then continued to decline and created a new overnight low of $87,265. The current trend has formed a bearish pattern of "lower highs and lower lows," indicating that bullish momentum is continuously weakening.

Currently, the key resistance above has shifted down to around $88,300. This level is not only where the rebound stopped last night but also close to the Fibonacci resistance zone of the downward wave. During the early hours, it is recommended to use this resistance zone as a defensive boundary. If the price rebounds to the $88,200-$88,400 range, consider entering a short position, with a stop-loss set above $88,800. The initial target is the previous low around $87,250-$87,000. #内容挖矿焕新公测开启 $BTC

Overall, as long as the price has not effectively broken through the $88,300 resistance, the market remains bearish. Be alert that a strong breakthrough above $88,800 could disrupt the downward structure. Meanwhile, there is support near $87,000 that has been tested multiple times; upon first contact, attention should be paid to profit protection for short positions.