From the four-hour chart, Bitcoin is oscillating within a horizontal channel, with the bulls and bears in a relatively balanced state. After the price touched the lower boundary of the channel, several consecutive upward K-lines appeared, directly reclaiming the lost territory. Currently, the price is holding above the middle band of the Bollinger Bands, which has become a key resistance level, and there is sufficient buying support below.

At first glance, it appears to be a consolidation phase, but in reality, it is brewing for the next upward wave. Consolidation itself indicates the accumulation of potential energy, and the bulls have not given up.

From a trading perspective, the range of 87,500 to 88,000 is a good entry opportunity for bulls, with a protective stop around 86,800. Looking upward, the levels of 90,000, 92,000, 94,500, and 97,500 can serve as target points. It is recommended to take profits in stages rather than all at once.