#数字货币市场洞察 Bitcoin is playing with nerves at a critical level again!

Current price is $89,490. Last night it plunged sharply by 1.68%, dropping all the way to $87,688 before rebounding. Looking at the 4-hour chart, there seems to be some improvement, but the bearish trend on the daily chart is still very strong.

The current situation is like this—there’s heavy resistance at the $91,500 to $92,000 level above, while support at $89,000 to $89,500 is just barely holding. If $87,500 is lost, honestly, the risk will increase significantly, and it could go straight to test $85,000 or even $80,000.

Traders are split into two camps: those looking to buy the dip can make light moves in the $88,000 to $89,000 range, aiming for a target of $91,000 to $92,000, but must set a stop-loss. Those who are bearish should wait for a rebound to $92,000 to $93,000 before entering, targeting a pullback to the $89,000 to $90,000 range—definitely don’t chase the downside or you could get burned.

The trickiest part is the sudden appearance of a huge sell order on the order book. This could be withdrawn at any time, making it seem like a whale is testing the market. The key is to wait for confirmation at the 4-hour close. If that sell order is still there, it will be very difficult to break through the $94,000 level, and the probability of a drop will increase significantly. Instead of guessing, it’s better to patiently watch the market and not get shaken out by rapid moves.