On Wednesday morning, Bitcoin fluctuated above 87000, retreating over a thousand points from the 24-hour high of 88700. Recently, after the coin price surged to 90500, it has faced continuous pressure, with long positions clearly weakening and selling pressure gradually emerging in the market, fully confirming the insufficient momentum after the short-term rise.

From a technical perspective, the 4-hour K-line has formed a clear M-shaped pattern with a sharp rise and subsequent drop. The first support level below is at the 24-hour low of 86500. If it breaks below this level, it is likely to continue to test the previous low around 84400. The bearish signals are already quite clear. Ethereum is also under pressure.

In terms of operation, it is recommended to set up short positions in the range of 88000-88500, with a target aiming at around 86000. Risks should focus on whether it can rise again above 88700 in the short term.