BTC's one-hour chart this morning shows a bit of an awkward performance—fluctuating around $91,000, with intraday declines wiping out 2-3% of the gains earlier this year. It looks weak, but a closer look at the technicals suggests the bottom is actually gathering strength.

Although the MACD on the hourly chart is still in a death cross, the bearish momentum bars are gradually shortening, indicating that the bulls haven't completely surrendered. The KDJ at the 24 level is neutral, with no clear golden or death cross signals yet. Interestingly, the RSI has fallen below 30 into the oversold zone, which suggests a short-term rebound is possible.

Volume is also worth watching. Recently, trading volume has increased, but the price continues to decline, seemingly indicating selling pressure is being released. However, the key point is that as the price approaches a critical support level, the selling pressure is noticeably weakening—this is often a sign of a potential rebound. Currently, the one-hour support is firmly at $89,100, with short-term resistance at $95,500. If the rebound can't break through $95,500, it’s likely to continue oscillating within this range.

But a warning: multiple short-term indicators are in MACD death cross, and the downtrend still has inertia. Don’t mistake a rebound for a reversal. For trading, it’s recommended to keep positions light, wait for the rebound strength to be confirmed, or for the support level to stabilize effectively before considering entry. Be sure to set stop-loss orders properly to guard against the risk of a breakout leading to a one-sided trend.