Bitcoin is currently oscillating around $91,000, with fierce battles between bulls and bears within the $90,000-$94,000 range. Market disagreement is so intense that many are completely wrong about the trend, which precisely indicates we are at a critical decision point.

**The Actual Significance of Price and Key Levels**

Looking at the recent movement up to January 8, Bitcoin rebounded from $90,600, briefly touching around $91,200, with daily closes above $92,000—sounds good. The problem is, the $94,000 level has been broken several times, and each time the bulls seem to weaken. This is not a coincidence but a test by institutions of the upper defense line.

The two key levels to watch are: below $90,000-$90,600 is short-term support. If it truly breaks, $89,500 becomes a lifeline (the bulls’ stop-loss level). If even this cannot hold, then $88,000 or lower will come into play. On the upside, $94,000 is a watershed; breaking through could lead directly to $96,000-$98,000.

**Where Do the Bulls and Bears Find Their Confidence?**

Bullish traders are not without reasons. Technically, Bitcoin’s daily chart remains above the MA60 (around $91,200), which they see as a sign of accumulation; a pullback is just a pause to gather strength. As long as $89,500 holds, they dare to call for $100,000 or even $110,000. From a capital perspective, spot ETFs have recently resumed net inflows, and large investors are adding positions on dips—these are bullish ammunition.

Bearish traders have their anxieties. The four-hour chart shows a "double top" pattern, with the highest point at $94,700, which technical analysts see as a top signal. If it falls below $90,000, they prepare for a mid-term decline targeting the $74,000-$79,000 range. There’s also a more immediate risk—high leverage contracts are everywhere, and a 5% move can trigger a cascade of liquidations. Recently, some institutions have been liquidated with losses of $350 million on long positions, and this could easily happen again.

**How Deep and How Long Will the Pullback Be?**

If the daily chart holds above the EMA10 (around $91,000), the rebound trend remains intact. Entering the $91,500-$90,000 zone could be a good entry point for long positions. This is the most optimistic scenario.

But if it breaks below $89,500, things get complicated. It might dip to $88,000, or even to $86,600. At such times, watch for a weekly reversal, as that could mean a true bear market has arrived.

Timing is critical. Around January 10 is a key window. Based on current momentum, this oscillation cycle might last another 2 to 5 days. Many are waiting for this window to give an answer.

**Ethereum and Other Coins’ Stories**

Ethereum has also been under pressure recently, with support at $3,030-$3,060 and resistance at $3,300-$3,400. Altcoins are even worse off; big funds are piling into mainstream coins, and altcoins are struggling to rise, mostly waiting for Bitcoin to stabilize before a rebound.

**How Should Ordinary Investors Respond?**

Short-term trading logic isn’t complicated. If $94,000 is broken, consider adding a small long position targeting $96,000. Conversely, if it drops below $89,500, cut losses decisively—don’t be greedy. During the $90,000-$94,000 consolidation, you can buy low at $91,000-$92,000 and sell high at $93,000-$94,000, capturing the spread.

Mid-term risk management is even more important. Avoid using leverage over 10x; that’s essentially poison. Keep your crypto assets within 10% of your total assets. If you hold spot positions, focus on weekly closes—if it falls below $83,000, you must acknowledge the possibility of a bear market.

**The Most Bizarre Part**

What’s most perplexing now is that whales are increasing positions on both sides, ETF funds are flowing in, but long-term holders are also selling. This creates an unstable balance. Liquidity could suddenly shift, causing volatility beyond imagination. That’s why some experienced traders are choosing to stay on the sidelines, waiting for the market to reveal its true intentions before jumping in.