Bitcoin is currently at a critical technical juncture. From the overhead resistance perspective, 92,000 is the previous high on the daily chart and also corresponds to the upper boundary of the VPVR chip vacuum zone, forming strong resistance; a slightly closer psychological level is the 91,000 mark, which constitutes short-term psychological pressure.

But what truly determines the future direction are the supports below. The 89,600 level is highly significant—it is the upper boundary of the previous consolidation range and also the so-called "lifeline." If this level holds, a violent bull market could potentially begin. Looking further down, 88,500 is at the middle band of the Bollinger Bands; a break below this level would clearly weaken the overall trend.

For bulls, patience is the most important now. Buying directly at 90,400 is obviously unwise due to excessive dispersion. A smarter approach is to wait for the price to retrace to the 89,600 to 89,900 zone, especially when bottom reversal patterns or moving average entanglement signals appear on the 5-minute or 15-minute charts—that's the real entry point for long positions. Once entered, the first target is 92,000.

If one insists on considering short positions, it is only suitable for ultra-short-term traders. When the price approaches 91,200 and bearish divergence appears on the 5-minute chart, a short-term short trade can be attempted to catch a pullback, with a target of 89,800. But honestly, in such a strong breakout pattern, shorting is like pulling teeth—risk far outweighs reward. Ordinary traders are better off remaining on the sidelines.