Bitcoin reached 90,400 yesterday but lost momentum, turning around and dropping directly to 86,760. In the evening US session, it hovered back and forth between 87,000 and 88,000, and has been doing so until now with little significance. Ethereum follows the same pattern: a rebound to 3,060 in the morning, then a reversal in the afternoon, now oscillating sideways between 2,900 and 2,950 with decreasing volatility.

In simple terms, there are no major news triggers; mainly, on-chain ETF funds are flowing out, which is a normal correction response. From a technical perspective, the daily Bollinger Bands for Bitcoin and Ethereum are still flattening out, but they are about to contract, indicating a potential trend reversal. The RSI on the 4-hour and hourly charts are in oversold territory, so a rebound should be expected. However, the MACD bearish momentum has not fully dissipated, only showing slight weakening with volume increasing slightly. The short-term moving average systems on both the daily and 4-hour charts are pressing down from above, limiting the space for a rebound.

Recently, the market is likely to continue this weak oscillation pattern. In the short term, Bitcoin's key resistance level is at 88,000. If the rebound is strong enough, it may attempt again at 89,000. The short-term support below is at 86,500-86,000; whether this area can hold remains to be seen.