Bitcoin is starting to stall again, and the 96,000-98,000 short positions are still held tightly.

From the market perspective, the intraday trend is just a roller coaster. The main trading range is between 94,444 and 98,000, with the critical support/resistance line at 95,800 — this line is very important.

The 98,000 level is under intense pressure, making it a super strong resistance zone. To open up new upward space, a successful breakthrough is necessary, and the target above could then point to 100,400.

Conversely, if the price breaks below 94,444 and continues downward to 93,200, it’s likely that a wave of correction is brewing. In this case, the real buying opportunity for low entry should appear around 89,300.

Now, it’s just a matter of waiting to see if it can break through the 98,000 hurdle.