BTC currently fluctuates around 914k to 915k, repeatedly struggling and failing to break through the upper boundary of the downward channel. On the daily chart, the bearish arrangement remains solid, and the ADX indicator has reached 55+, indicating a strong downward trend.

On the 4-hour chart, the high near 914,442 has been repeatedly suppressed, with the blue line showing clear resistance. Recently, several candles have shown signs of stagnation at high levels, even forming engulfing bearish patterns, which are typical signs of a weak rebound.

At the 1-hour level, the bearish pressure has intensified further. The short-term structure is clearly weak, with multiple failed attempts to break upward.

**Trading suggestion**: In the 914,000～915,000 range, once clear resistance signals or volume-increasing bearish candles appear, it is advisable to try short positions with small size. Aggressive traders can lightly test the market, while conservative traders can wait for a break below 91100 for clearer confirmation signals. Stop-loss should be set at 91800～92000.

**Target levels**: First target 90500～90800 (1R), where partial profit-taking can be considered; second target 89500～90000 (2R), with trailing stop moved to the break-even point. Aggressive traders can even focus on the depth target of 88000～88500.

Overall, the bears still hold strong control, and the rebound space is limited. As long as clear resistance signals appear, consider positioning accordingly. However, if the price quickly breaks above 91700 with no significant resistance, it’s better to switch to a wait-and-see stance and wait for subsequent structural changes before making further decisions.