Let's do a simple review of yesterday's market. The overall market closed with a strong bearish tone, testing the bottom support structure. Bitcoin's intraday price once dipped to around 86,000, which was our expected support level. Later in the evening, after a sharp rise that reclaimed and broke through the 90,000 mark, the price was fully retraced, once again playing out a "painting door" event, with the market retracing nearly 5,000 points. Recently, I have repeatedly mentioned two key levels: 86,000 and 90,000. These support and resistance levels are critical short-term oscillation resistance points. Today's range break requires attention to the CPI developments tonight.

Looking at the current chart, the daily structure still faces pressure at the midline. The price rebounded from a high point and then fell back under pressure. The candlestick also shows long upper shadows, and the Bollinger Bands are in a narrowing state, indicating that the current market remains dominated by bears. Without further news catalysts, the price cannot break through key resistance levels, and there is still a possibility of further decline. Combining this with the four-hour small cycle chart, the price attempted a second rebound but was pressured and fell back to the lower boundary of the previous upward channel. The sharp rise and subsequent decline show a bearish trend. The MACD fast and slow lines are below zero and have formed a death cross again, indicating that bears currently dominate the market. The important support at 85,000 has not been broken. In the short term, watch for a rebound near 85,000 to see if a bottom is forming, and observe the range-bound oscillation.

Bitcoin can consider a light short position in the 86,500-86,200 range, watching for a break below 85,000. Altcoins can consider a light short around 2,850, watching for a break below 2,730. #BTC #ETH