Bitcoin first attempted to break the $98,000 resistance level but ultimately retreated. This outcome was actually expected—since $98,000 is a key weekly resistance level, I marked it over a month ago.

Currently, the retracement is not very deep, with the price oscillating around $95,000, which essentially forms a short-term support. However, from a daily chart perspective, the true support that reflects bullish strength is further down; around $92,000 is the critical line that needs to be defended.

What’s the next move? I have already closed most of my long positions. Now, I mainly observe the resistance at these two levels—see how much selling pressure they can withstand at $95,000 and $92,000. We’ll see when the price approaches $92,000. If the bulls are indeed strong at that point, I will consider gradually adding to positions or deploying spot holdings.