#美联储重启降息步伐 Bitcoin is engaged in a thrilling battle between bulls and bears at the $89,000 mark.

Last night, it crashed 1.68% in a flash, plunging rapidly to $87,688, but then the bulls forcefully pulled it back. It's now quoted at $89,490, seeming to have caught its breath. There are some signs of a rebound on the 4-hour chart, but the bearish pressure on the daily chart still hasn't dissipated.

To see this game clearly, you need to focus on two lines. The $91,500 to $92,000 area above is a tough barrier, having seen several highs in succession—it's not easy to break through. Below, the $89,000 to $89,500 range is currently like a lifeline; if it can't hold, the price will head straight for $87,500, and could even drop to $85,000 or $80,000.

There are indeed some massive sell orders showing in the order book, which could disappear at any moment or trigger a dump. This is the key.

If you want to bottom fish, you can try a light entry in the $88,000 to $89,000 range. Don't be greedy—reduce your position around $91,000 to $92,000, set your stop loss, and don't act out of stubbornness.

If you're going short, wait for a rebound to the $92,000 to $93,000 range before entering, targeting $89,000 to $90,000. But don't blindly chase shorts—this kind of market can reverse quickly.

The four-hour candlestick hasn't closed yet, so be patient and wait for confirmation. If those big sell orders are still there, the $94,000 level is basically out of reach, and the probability of a breakdown will soar. Stay calm and don't rush in.