Bitcoin is currently showing a high-level consolidation pattern, with a surge to around 94,415 yesterday evening followed by heavy selling pressure, leading to a sharp decline to a low near 91,210 early this morning. It then quickly rebounded and traded within a narrow range around 92,700, displaying a "rise - pullback - oscillation" pattern characteristic of a battle between bulls and bears. Ethereum's movement remains highly correlated with Bitcoin, dropping from a high of 3307 to a support level of 3181 before rebounding. Currently, it is oscillating around 3260, with the linked market effect continuing to be prominent.

The daily bullish arrangement remains unchanged. The price has stayed above the EMA7 for three consecutive days, but the MACD histogram is shrinking, indicating weakening bullish momentum. The previous high zone around 94,400-95,000 acts as a strong resistance. After breaking through, the market has entered a phase of chip digestion. The four-hour chart shows a "V-shaped" recovery pattern, but insufficient volume and RSI entering overbought territory suggest short-term correction pressure. Although the price is supported by the moving averages, the lack of sustained buying volume further consolidates the high-level oscillation foundation. The current market rhythm indicates that the core bullish trend remains intact, but profit-taking and short-term profit-driven selling pressure need time to be absorbed. The intraday rise and fall are not trend reversal signals but typical high-level shakeouts, mainly aimed at digesting the trapped positions in the 93,000-95,000 range and accumulating energy for subsequent breakthroughs.

Today's trading strategy mainly focuses on range-bound oscillation, with key support at 92,000-92,700. After a correction and stabilization, traders can consider long positions toward resistance zones of 93,800-94,400. If the price faces resistance again near 94,400, a small short position can be attempted with a stop-loss above 94,500. Position sizes should be strictly controlled to manage volatility.

Specific operational suggestions: Pay attention to support levels at 92,500-91,800 and below 90,100-90,300. If support holds, consider entering long positions with targets toward 94,500 resistance. If the price breaks above and stabilizes at 94,500, continue to look for higher targets at 96,800 and 99,000-100,000. If the price reaches 94,500 without breaking, consider attempting short positions for a pullback to support levels below.