BTC Market Analysis:

Bitcoin has started to consolidate at a high level. Is this a sideways movement instead of a drop? After surging to 94,900 yesterday, there was a subsequent pullback, briefly touching the vicinity of 91,800, which coincidentally aligns with the short-term support level of around 92,000 provided in yesterday's analysis, as well as the CME chart's gap-filling position!

In terms of price action: On a smaller scale, signs of consolidation have appeared, as it has started to range around 93,000-94,000. From the chart, there hasn't been an effective breakthrough of the upper resistance, and the lower support hasn't been broken either. Pay attention to the breakout situation in this range in the short term.

From the Fibonacci perspective, there is currently strong support around 92,000 and resistance around 96,000!