The early morning market surged to around $90,600 after the Federal Reserve decision but failed to break through the previous high and quickly faced resistance and pulled back. This clearly indicates that the resistance above remains solid, and the market's bullish momentum has weakened. Subsequently, the price oscillated downward by over 1,000 points, currently testing the $89,000 level, forming a clear pattern of a sharp rise followed by a pullback.

From a technical perspective, the hourly chart shows signs of a stalling rally and a preliminary formation of a local top structure. Key indicators such as RSI turning down from overbought territory and MACD brewing a death cross both suggest that short-term upward momentum is diminishing. If the price continues to stay below $89,500 and fails to return above $90,000, a bearish trend will be confirmed.

Focus should be on the support zone between $88,500 and $88,800. Once this level is effectively broken, a deeper correction is likely, with a target around $87,000 to $86,500. Given the clear resistance at current high levels, the overall market trend leans toward a oscillating correction. Trading strategies should mainly adopt a cautious, bearish bias on rallies, with strict stop-loss settings to prevent sudden reversals. #金价突破5200美元 $BTC