Analysis: BTC has lost the 4-hour support level, with the monthly opening price around $87,600 as a potential target price

Cryptanalysis expert Lennaert Snyder stated that the BTC price has fallen to around $91,000, while also breaking below the support level of approximately $92,155 on the 4-hour chart, confirming the downward momentum. The analyst himself is looking for shorting opportunities, with a final target price of around $87,600, which is the monthly opening price (with two take-profit points set during the process of reaching the low).

Additionally, there is support for BTC price around $90,500. If a strong rebound and reversal occur at this level, it will close the short positions. If BTC successfully breaks through around $96,500, it will turn bullish.