# Bitcoin shows a weak rebound after a sharp decline in the short term, dominated by bears. The current price is around $89,600. The 1-hour bearish momentum has not fully dissipated, and the 4-hour cycle is in a correction trend. The core analysis is as follows:

1. Main Trend Characteristics

1. Short-term sharp decline: The 1-minute candlestick shows the price rapidly dropping from $92,621.8 to $89,589.5, a drop of over $3,000 in a short period. This indicates a volume-driven plunge combined with panic selling, followed by only a weak rebound with insufficient buying support.
2. Medium-term correction: On the 4-hour candlestick (which reflects the 1-hour trend), the price breaks below short-term moving averages MA5/MA10/MA30. The MACD remains in negative territory (DIF=-84.3, DEA=223.8), indicating bearish dominance. From the previous high of $94,554.9, the market has entered a correction phase.
3. Key level test: The 24-hour low touched $89,464.5, approaching the round number support at $89,000. Currently, there is a weak stabilization at this level, but no volume-driven rebound signal has appeared.

2. Key Technical Signals

1. Moving averages: Short-term moving averages (MA5/MA10) are in a bearish alignment, with the price trading below these averages, indicating a typical weak downtrend. Moving averages will act as resistance during rebounds.
2. Volume: During the decline, trading volume increased; during rebounds, volume contracted. This suggests funds are mainly fleeing, with strong sentiment to wait for bottom-fishing opportunities.
3. MACD indicator: The 1-hour MACD remains below zero without a golden cross, and the 4-hour MACD indicates persistent bearish momentum. The likelihood of a reversal in the short term is low.

3. Support and Resistance Levels

- Support: First support at $89,000–$89,500 (current low-volatility zone + round number support); second strong support at $87,000–$88,000 (previous correction low).
- Resistance: First resistance at $91,000–$91,500 (short-term moving average resistance); second resistance at $92,500–$93,000 (previous consolidation platform).

4. Trend Outlook

- Short-term (1–6 hours): Most likely to oscillate weakly within the $89,000–$91,000 range. A break below $89,000 could lead to further decline toward $87,000–$88,000. If volume breaks above $91,000, a small rebound may occur, but the medium-term correction trend remains intact.
- Risk warning: Cryptocurrency markets are highly volatile. The bearish trend persists under current conditions. Be cautious of potential breakdowns. Operating strategies should focus on observing or lightly shorting rather than blindly bottom-fishing.

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