Bitcoin has been oscillating between $89,000 and $92,000 recently, with support firmly held at the $89,500-$90,000 level, and several attempts to break below have failed. There is significant resistance overhead, with $91,800-$92,000 acting as a hurdle, and further up, $93,300-$93,400 adds to the pressure.

The possibility of a breakdown needs to be carefully considered. Once the $92,000 level is broken, the upward potential could extend all the way above $94,000. Conversely, if the $89,500 support cannot hold, caution is needed as a dip to $88,000-$88,700 is possible. The most concerning aspect here is that a false breakout could occur at any time, so be careful not to be fooled.

Market signals indicate that in the next 1-2 weeks, the true trend will likely become clear, and the current oscillation pattern should break. The key depends on how related assets like US stocks and gold perform, as their momentum directly influences Bitcoin's direction.

Strategy-wise, start with a light long position and follow the trend, avoiding greed.