#美联储降息 This 1-hour chart clearly tells the story — Bitcoin is still in a short-term oscillation and retest pattern. Don’t let the rebound highs deceive you.

From a technical perspective, the situation has already unfolded:
The Bollinger Bands are opening downward, and the candlesticks are firmly pressed below all moving averages (7-day and 30-day lines have both been broken), which is a classic bearish sequence.

The MACD has formed a death cross, and the green bars are still expanding, indicating that the bearish momentum shows no signs of dissipating.

The previous resistance zone has shifted down to the range of 91209-93300. Any rebound that cannot break through this zone is just bait to attract longs.

I haven’t been paying attention to on-chain activity all day: whales are continuously transferring coins to exchanges, clearly some large holders are quietly cashing out. Unfortunately, the market’s enthusiasm for buying is lacking. The news side is even quieter — no reports of institutional-level positive news suddenly emerging, nor macro factors causing a stir. The market is just hanging on to a wave of sentiment.

My judgment last week — “Don’t chase high, wait for a second test of the bottom” — has now been fully validated. Currently, don’t rush to buy the dip. The first support level is at 91600 (Bollinger lower band). If volume pushes it down through this level, then the target shifts to 90500.

In crypto trading, the direction of the market isn’t the most frightening part; the worst is knowing it’s wrong but still forcing yourself to fight against it. My current view remains unchanged: those without positions should continue observing; those with positions should gradually exit during rebounds. Only when the market is truly panic-driven and crushed will we have the chance to squat down and buy the dip.

In the crypto world, patience is profit. Let’s wait together for this signal to appear.