Recently, the fluctuations in the geopolitical situation continue to impact the market, which is worth paying attention to. The Venezuela oil distribution issue remains unresolved, and crude oil prices may continue to be under pressure. If the situation escalates, it could inevitably affect overall market sentiment. Meanwhile, the situation in Greenland is also heating up. Although such geopolitical risks seem distant from the crypto world, they often influence financial markets through macroeconomic expectations.

Looking at the performance of the US stock market, it closed lower this morning, but the decline in cryptocurrencies was not as deep, indicating that the market still has a bottom consensus. Bitcoin repeatedly tested the 90,600 level, while some altcoins experienced deeper corrections. However, the main cryptocurrencies basically retraced to the Fibonacci 0.5 level. Overall, the bullish momentum remains quite sufficient, but on a smaller timeframe, bearish signals have indeed appeared.

From a technical perspective, BTC is trading around 91,000, with a higher probability of success in long positions. From the broader context, BTC remains in a strong bullish pattern. Structurally, the one-hour chart shows a triple push wedge pattern, along with a clear bullish divergence signal, which suggests a higher likelihood of upward adjustment. More importantly, the 90,600 level has been tested multiple times without being effectively broken, indicating that the bulls’ defensive willingness is genuine.

In trading, once a large bullish candle or consecutive bullish candles appear, you can confidently go long, targeting recent highs. If you want to go long on the left side, 90,600 remains the main position to attempt.