From a daily perspective, although there are occasional signs of rebound in Bitcoin, its momentum has already shown signs of fatigue. Multiple attempts to rally have failed, with numerous upper shadows indicating strong selling pressure above, while buying strength gradually weakens. Market liquidity is tightening, and the Kuangtou forces still firmly control the market pulse.

Switching to the four-hour chart, the price rises to the upper band of the Bollinger Bands and is immediately hit hard, then quickly reverses downward, breaking through support levels with increased volume and piercing the lower band. The previous support zone has been lost, and the short- and medium-term moving averages are all trending downward, forming a clear Kuangtou arrangement.

Bitcoin: Consolidation around 85,700-86,200, with a rebound at 86,700, and further downside targets at 84,700-83,300.