$BTC 1.29 Bitcoin Price Today: The 4-hour downtrend starting from $98,000 has been confirmed to complete near $86,000. Currently, the market is in a rebound phase, with the upward movement from $86,000 forming a small-term trend structure. The current price is at a critical point after the end of rebound wave A; if a pullback can land near the Fibonacci 0.618 level to complete wave B, then wave C will begin its upward movement. The key to the subsequent trend is whether wave C can break through the key resistance zone strongly, thereby achieving a "small to large" transformation, turning the current rebound into a reversal, and ultimately challenging the previous high of $98,000. In terms of operation, one should wait for a buy-the-dip opportunity and closely observe the strength of wave C.