The morning market trend declined as expected, with Bitcoin falling below the key support level of 88,800 and reaching a low of around 88,000. Ethereum also lost the 3,000 level. Our early position of short at 89,100 successfully captured a thousand-point profit. Currently, the price is weakly consolidating around 87,900.

Technical patterns show that Bitcoin's daily chart has formed an initial double top, confirming a short-term top structure upon breakdown. The 4-hour chart shows three consecutive bearish candles with MACD divergence and a dead cross, while RSI enters the weak zone, indicating increasing bearish momentum. The current price is below all short-term moving averages, with the 88,300-88,500 zone acting as the first intraday resistance. If this level cannot be reclaimed before the European session, further decline to the 87,500-87,200 support zone is expected.
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In terms of strategy, maintain the idea of shorting on rebounds. Wait for the price to retest the 88,300-88,500 resistance area and then gradually enter short positions. Set the stop-loss above 88,800, with targets at 87,500 and 87,200. If the 87,200 support is broken, the downward space may further open to the 86,500-86,000 zone.