At 5 a.m., Bitcoin is hovering around 96,000, and the main force is not directly rushing towards 100,000. Instead, there was a deep correction at the high level. The price plunged to around 93,000 and started sideways consolidation, even breaking below the golden ratio level of 94,200. However, this retracement instead formed a strong northbound trend, with a clear three-stage jump rhythm. As long as the 93,000 support holds, there is still a chance to continue upward.

From the daily chart, the highest point is near 93,600, and the lowest dipped to 92,000. The key here is that the EMA30 moving average is exactly at the 92,000 level, becoming a clear support zone. Currently, the MACD volume is shrinking, with DIF and DEA also contracting, and the candlestick is near the middle line of the Bollinger Bands at around 92,350. The upper band is at 97,200, indicating a significant retracement demand. In the short term, the primary resistance is around the 0.168 Fibonacci retracement line, with the first target at 94,200. If this level is broken, it can continue to be held; otherwise, it’s better to take profits and look for a better entry point to go north again.

On the four-hour chart, the situation becomes clearer. The main resistance for the northbound move remains at 94,200, which is particularly sensitive as it coincides with the trend top. MACD is also in a shrinking phase, with DIF and DEA contracting. The middle line of the Bollinger Bands is around 94,500. Currently, this wave has formed a new range, with support at 92,000 and resistance at 94,200. Although the KDJ has formed a golden cross, the momentum from the order book is not particularly strong, indicating that the bulls are still gathering strength and need more time to accumulate power. Therefore, it’s more appropriate to treat this with a swing trading mindset for now.

A key trading principle to remember: the market never has 100% certainty, so stop-losses must be in place. Safety always comes first. Small losses and big gains are the right approach.

For trading below: if the 92,500 to 92,000 zone is not broken, consider going long. Set a stop-loss around 400 points, with the first target at 93,500 to 94,000. If it gets rejected here, further downside targets are at 94,500.

For trading above: if the 94,000 to 94,500 zone is not broken, consider going short. Same stop-loss of about 400 points, with targets at 93,500 to 93,000. If it breaks downward, continue to watch 92,500.

It’s important to emphasize that actual operations should be based on real-time market data. This article may have delays and is for reference only. Trading involves risks; managing your rhythm is the most critical part.