June 12 Morning Analysis: Bitcoin experienced a V-shaped fluctuation overnight, rebounding from a low of $87,688 to $91,720, and is consolidating around $91,000 this morning, with a 24-hour slight increase of 1.8%. After a $350 million market-wide liquidation, funds are repositioning in the $87,000-$92,000 range due to uncertainty over the Fed's rate cut decision on Thursday. The daily chart shows an ascending wedge and neutral RSI, indicating waning momentum and an imminent directional move. Strong support is at $87,500-$88,000, clear resistance at $91,500-$92,000. Combined with Fed disagreem

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After forming a death cross on the hourly chart, prices are consolidating at a low level, presenting an overall pattern of "sharp drop followed by weak rebound." The rebound has not broken through key resistance levels, with bearish dominance being prominent.
The 88,000 level below serves as short-term support, while the 90,000-91,000 range above is the core resistance zone for the rebound. Currently, price is situated between resistance and support, with insufficient rebound momentum and a high probability of a second dip. During the rebound phase, the candlestick bodies are relatively small