The afternoon market shows signs of stagnation. After touching 88980, Bitcoin failed to hold above the key resistance level of 89000 and has now retreated to around 88500 for consolidation. From a technical perspective, the hourly chart shows signs of declining volume and indicator divergence, indicating that the upward momentum is weakening. If there is no solid breakout above 89000 in the short term, a double top pattern may form, triggering a pullback.

Currently, focus should be on the support strength in the 88200-88000 range. If the price breaks below this zone, the short-term bullish structure will be broken, and the price may further test the support band at 87500-86800. If the rebound continues to face pressure in the 88800-89000 area, the short-term trend will shift to sideways with a bearish bias. #内容挖矿焕新公测开启 $BTC

In terms of trading strategy, it is recommended to adopt a cautious approach at high levels, paying attention to shorting opportunities during stagnation within the resistance zone, with strict stop-loss set above 89500. In the evening, monitor the movements of US stocks and the US dollar. If external market sentiment weakens, it may accelerate the adjustment pace of the cryptocurrency market.