Look at the 4-hour candlestick chart for BTC: the Bollinger Bands are opening up, appearing to be gaping downward. The price has directly broken through the lower band, and although there was a brief rebound, the upper and middle bands continue to exert pressure, indicating that the bears are currently in firm control.

What’s more striking is the trading volume. When the price broke through the 90,000 mark, the trading volume clearly increased, with more and more sell-offs. This signal is very important—if the volume cannot keep up during the subsequent rebound, the risk of a second decline will immediately surface.

From a price perspective, there is currently a struggle around 89,300-89,800. Above that, 90,300 is a gap fill point. Further down, the range is 88,300-86,800. Trading volume is key to judging the future trend; stay closely tuned.