Bitcoin has recently been oscillating above 87,000. Although it surged to around 88,000 within 24 hours, it quickly pulled back afterward, with upward momentum clearly weakening. The key resistance level at 90,500 has consistently been effectively suppressed, and bearish sentiment in the market has intensified again.

From a 4-hour technical perspective, Bitcoin's price remains under continuous pressure below the middle band of the Bollinger Bands, with the upper band exerting downward pressure. The entire Bollinger Band is narrowing and leaning towards a bearish formation. The resistance level at the previous consolidation platform has also failed to be effectively broken through. Although there have been several rebound attempts by the bulls, they were quickly suppressed, indicating that buying strength is continuously weakening. Current technical signals clearly point to the bears gaining the upper hand.

Based on the above analysis, it is recommended to consider a short position in the 88,000-88,400 range, with a target near the support level around 86,000.