$BTC

From the current hourly chart, BTC has experienced a technical rebound after reaching around 93400, and the current price is fluctuating around 94600. The Bollinger Bands show slight signs of contraction, with the middle band serving as short-term support, and the price is temporarily holding above it.

However, the overall trend remains bearish, with the price still operating between the middle and upper bands, and it has failed to effectively break through the 95000 level. Although there has been a short-term rebound, there is significant selling pressure above, reflecting insufficient market confidence, and bearish sentiment continues to dominate the market.

Support below is focused on the 93700 level; resistance above is concentrated at the 95000 level; if the upper band cannot be effectively broken in the future, there is a high probability that the market will still retrace to test the previous low.