Bitcoin remains in a narrow range of oscillation tonight, with limited intraday volatility. The current price is around 87,500. Looking closely at the candlestick chart, multiple rebounds have failed to stabilize above the 88,000 level. The Bollinger Bands are already opening downward, and all moving averages are trending downward. The 5-day moving average is pressing near 90,000, forming a relatively strong resistance, and it is also slowly declining.

Zooming out to the four-hour chart, after being pressured at the previous high point, the upward momentum of Bitcoin gradually weakened, followed by a correction. However, during this correction, the buying support below remains decent, and there are no signs of a breakdown in the overall structure. It appears more like a consolidation at a high level rather than a trend reversal signal. The price is fluctuating around the oscillation center, with bulls and bears engaged in intense confrontation.

Looking at the one-hour chart, sideways consolidation is the main theme. Recent lows have not continued to decline, and the bearish momentum is gradually weakening. Market sentiment shows signs of recovery. As long as the price does not effectively break below the key support, it is likely to test the resistance zone multiple times, maintaining a rhythm of oscillation and accumulation.

**Trading suggestions:**

Bitcoin: Consider short positions in the 87,500-88,000 range, targeting 86,500.

Ethereum: Short positions in the 2,930-2,960 range, targeting 2,850.