In the early morning, Bitcoin retraced to 90822 and was immediately picked up by bulls, quickly pulling the price back above 92200. This segment of the trend basically confirmed the strong support in the 90800-91000 area. As long as this range is touched, the bulls will immediately defend, preventing further declines or breakdowns.
From the hourly chart, Bitcoin has re-established itself above the short-term moving averages, and the volume during the rebound is considered healthy, indicating that funds are entering in an orderly manner rather than in a chaotic emotional rush. If the range of 91800-92000 can be stabilized, the short-term market is likely to continue applying pressure towards 92800-93000.
Overall, the dip in the early morning did not damage the structure; instead, it demonstrated the strength of buying interest below. Currently, we are in a phase of upward fluctuation, and as long as 92000 is not effectively broken down, market sentiment remains bullish.
Trading Suggestions
$BTC : Long positions in the 91500-91800 range, targeting 93500.
$ETH : Long positions in the 3100-3120 range, targeting 3200.
