Yesterday, the Bitcoin icon peaked at 94,696, then slightly retreated. The 4-hour level formed a range between 92,000 and 94,500. After breaking through the range of 83,000 to 86,000, it has risen over 8,000 points from 86,000. This rebound can be considered quite unexpected. News of Trump lowering tariffs and a significant drop in gold has led to a lot of capital flowing in, which is beneficial for Bitcoin.

At the beginning of the month, Bitcoin bottomed out at 74,000 and has since rebounded by over 20,000 points. From a spatial perspective, the rebound is nearly complete, but there are currently no signs of a retreat. There are two important resistance levels above this position at 95,000 and 97,000, and the cost-effectiveness of the upper space is low, so it may be better to wait and observe.

On the 4-hour level, a new range has formed here, similar to the previous one; we just need to wait for the range to be broken. Currently, the 4-hour MACD has not crossed down, so we need to wait a bit longer.

On the daily level, the bullish trend remains, while from the weekly perspective, the probability of Bitcoin going directly up to 100,000 is only 20%, and there is an 80% probability that it will need to retrace once more to the 80,000 level. Currently, the 20-week line is around 92,000, which happens to be the lower edge of the range. Therefore, we should observe whether Bitcoin retreats below 92,000 in the coming days.

Summary:

1. Bitcoin has formed a new range between 92,000 and 94,500, and we currently need to wait and observe.

2. If the range is broken upwards, 95,000 to 97,000 is an important pressure zone, and the cost-effectiveness of chasing long positions is not very high. If the range is broken downwards in conjunction with the 4-hour MACD crossing down, Bitcoin will begin a new bottoming process, which may go below 90,000.