The current situation of Bitcoin can be summarized as "waiting." The market has been repeatedly consolidating below the 91,000 level, with both bulls and bears observing and no one rushing to take action.

From a technical perspective, the last line of defense for the bulls is currently around 90,400-90,500. This level has not been effectively broken below yet, but there is also no strong upward momentum. In simple terms, it’s a very narrow sideways consolidation—the market is accumulating energy, waiting for new news or an important trading session to break the deadlock.

Looking downward, the first support is at 90,400-90,500. If this level cannot hold, then we need to see if the 89,800-90,000 zone can support the price. Further down, 89,200-89,500 is an area where bulls can mount a counterattack.

If the price breaks below 88,800, the short-term structure will weaken, and it may be necessary to look for support between 87,500-88,000.

On the upside, the first resistance is at 91,300-91,600. Only a breakout above this zone can truly open up upward space.

The current trading strategy is very simple: mainly observe. The price is oscillating in the middle zone with clear boundaries on both sides, and chasing gains or cutting losses at this point carries the highest risk. If you want to position for long positions, it’s best to patiently wait for the price to retrace to key support areas before acting. As for short positions, the risk-reward ratio is currently not very favorable.

Overall, the market is at a crossroads. Before the price breaks out of this consolidation range and the direction is confirmed, patience and proper position management are the safest approaches. Opportunities will come, there’s no need to rush.