Bitcoin has retreated from its all-time high of 126173 and has been oscillating back and forth on the 4-hour K-line recently, with prices ranging between 87258 and 87965. Overall, it remains in a typical high-level sideways consolidation, with no significant directional movement.

The trading strategy isn't complicated. To put it simply—if the price retraces to around 87200 and can hold steady, a small position could try to go long for another wave. If it rebounds and faces resistance around 88000, then consider shorting in the short term. The key is not to chase after the price before the range is broken; doing so can easily lead to being caught in a trap.

The most critical points to watch are two levels: one is 88000—if it holds steady, the bullish outlook will be more confident; the other is 87000—if it breaks below this, the market may turn weaker. These two points largely determine the short-term direction.