Last night, Bitcoin (#BTC上攻11万 ) broke through its previous high and formed a bullish structure on the 15-minute chart. The pullback level of the upward trend that started on the 24th is roughly in the 96000-95000 range (yellow area). If this area stabilizes and rebounds, it may be worth considering a short-term long entry; if the price breaks below this range and continues to decline, attention should be paid to the support around 92000 below. If this support is effectively broken, the larger cycle will still be in a bearish trend, and subsequent attention can be given to the buying point around 86000.

The overall market is currently leaning towards consolidation, with the consolidation range approximately between 92000-98000. If a false breakout is considered, the range can be extended to 88000-102000. I remind everyone to avoid blindly chasing prices up or down and to pay close attention to risk management. The market has been quite volatile recently, and if conditions allow, it is advisable to temporarily stay away from the market and make decisions based on clear trends once the consolidation structure is clarified.