As of 8:20 PM tonight, Bitcoin is quoted at approximately $90,200, with a decline of less than 0.4% in the past hour. Trading volume has significantly shrunk, and price fluctuations are becoming smaller. From the two-hour trend, it is most likely oscillating within a narrow range, with limited rebound strength.

**Key Price Level Analysis**

The core oscillation range of this round of market movement is between $89,800 and $90,800, making it difficult to break out of this range. If a downward test occurs, $90,000 is the first psychological barrier, followed by $89,600 (today’s low), and further down is the strong support at $89,000.

Looking upward, $90,800 forms an initial resistance. To break through $91,200, trading volume needs to cooperate; otherwise, it may be pushed back.

**Current Market Drivers**

There are no major economic data or events expected to release, ETF capital remains steady, mainly due to profit-taking pressure from previous high levels and insufficient trading volume. This combination makes it difficult to generate a clear directional trend.

**Probability Analysis**

Based on my judgment, the distribution is as follows: a 70% chance of continuing sideways movement, with the price fluctuating within the $89,800 to $90,800 range, with a volatility of no more than 1%; a 20% chance of a slight downward dip, possibly testing support at $89,600 or $89,000, but due to insufficient volume, even if it drops, a rebound is possible; the remaining 10% chance is a weak rebound, encountering resistance near $91,000, and without volume, it’s unlikely to push higher.

**Trading Recommendations**

The current environment is more suitable for observation. Avoid leverage and heavy positions. If you must trade, aggressive traders can try buying within the $89,600 to $89,800 range, with a stop-loss at $89,000; short opportunities are around $90,800 to $91,000, with a stop-loss at $91,500. Remember to enter and exit quickly.