Everyone, have you seen clearly? Bitcoin surged to 89,000 this morning and then plummeted straight down, now stuck at 88,375 dollars—this is not a usual fluctuation, but an oppressive atmosphere signaling a storm coming.

The root of the problem comes from the Federal Reserve. The hawkish officials who will have voting rights next year have just stated: inflation remains a top priority, and interest rates may need to be frozen until spring. What seems to be a macro statement actually pierces the biggest illusion in the market - the dream of interest rate cuts and abundant liquidity in spring next year. The dollar may rebound, while risk assets face a silent withdrawal of funds. This won't cause an immediate explosion, but it will continuously cool the market's optimistic sentiment. If more central bank officials follow suit, the current narrative may undergo a series of shocks.

From a technical perspective, the situation has become more complicated:

There are three critical levels above — 90,000 is the psychological barrier, 91,000 is the rebound top, and 92,000 is the real strong resistance. The current position is 88,375 USD, barely holding the key support at 87,600. Looking down, 86,000 to 85,000 is the first defense line, and 84,000 to 83,000 is the last bottom area.

Although the MACD golden cross has crossed the zero axis, indicating that short-term funds are still trying to push higher, whether the trading volume can be sustained is debatable. My judgment is that directly attacking 91,000 is too difficult; a more likely scenario is to continue fluctuating between 88,000 and 90,000 during the day. If the volume does not keep up at night, it may test the range of 96,500 to 85,500 downwards.

In this situation of mixed bullish and bearish battles, how should ordinary traders respond? If you are fully invested, you might consider gradually unloading some positions around 90,000.