Bitcoin 1-hour chart is currently oscillating around 95,200, with the trend trapped in a typical range-bound pattern. From a technical perspective, the 94,760 level is particularly important — it is a key support level for retesting the previous high, and also the dividing line in the battle between bulls and bears.

If the price can hold above 94,760, the high-range consolidation may continue, and there is even a chance to retest the 98,000 resistance level. However, if this support is effectively broken, attention will turn to whether the lower boundary of the 94,200 range can hold. Once that is broken as well, the strong support at 93,000 becomes the next line of defense.

Currently, trading volume continues to shrink, and the momentum for a rebound is clearly weakening. In this environment, chasing highs in the short term is not very wise. Instead of gambling on opportunities, it’s better to trade within the range by buying low and selling high, which is more prudent.