Bitcoin has broken through the resistance level of $97,500 at midnight, and the next key resistance level that the market is focusing on is $98,500.

Despite Bitcoin breaking through $97,500, market sentiment remains cautious. Negative news last night caused some investors to be trapped, leading to a certain degree of retracement pressure in the market.

Bitcoin has formed a "bullish wedge" on the 4-hour chart and has successfully broken through this pattern, but there is strong resistance near $98,500.

Currently, the support levels for Bitcoin are in the range of $94,131 and $93,000.

If this wave of rising prices cannot break through $98,500, it may retrace to around $94,000.

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