Bitcoin has returned to the $90,000 level, with the current key focus position at the 8950 line.

The four-hour chart shows a consolidation pullback pattern, while the one-hour level is still waiting for secondary confirmation. From a technical perspective, if we cannot produce a new low or if the price quickly recovers after breaking the level (forming a pin bar), the B-wave correction will likely complete, followed by the initiation of a C-wave rally.

In terms of chart operations, if the four-hour close is weak, consider stop-loss management. Only if it holds above 9060 can the C-wave play out. The upside target remains unchanged, targeting the 92000-92800 zone. If the European session cannot recover the previously retested space, it will be a consolidation rhythm, and during the US session, adjust risk protection or moderately reduce positions based on price levels.

If 9000 is effectively broken, it may explore new lows again. However, positions entered below 9050 still have arbitrage opportunities for bounces, and there's no need to look at the 9470 resistance level in the short term—first wait for the confirmation given by the body breaks at two key levels.

For positions entered below 9100, there's no need to be overly tense for now. Given the market sentiment, there is still an expectation of an upward bounce.

The core risk in the short term is at the 8980 line—once the price breaks below this, it may trigger a chain reaction of stop-loss liquidations. However, if the rebound is quick (pin bar formation), this may instead constitute a bull trap, potentially leading to a reversal.

In summary, closely monitor the trend confirmation over the next two days, seize timing and positioning, and wish everyone smooth trading.