I think this view still has some reference value

$BTC Evening outlook:
"First the supplies, then the troops" is very appropriate to apply to the current market situation. Before the US stock market opens, Bitcoin is already showing a warning sign.
The hourly triangle pattern of Bitcoin has also been broken. I originally thought that the downward spike in the morning wouldn't break the previous low of 91,800. It seems I underestimated Bitcoin's ability to shake out traders. Now Bitcoin has formed a lower low. If the rebound cannot recover above 91,325-91,812, it will continue to test the support at 90,350. If 90,350 is broken, the next target is 89,265. To stop the decline, it must regain above 91,325-91,812; otherwise, it cannot stabilize. The reason it isn't falling further now is waiting for the US stock market to open. When the US market opens, there might be a false break below 90,350 or 89,200, then a quick recovery. If it moves this way, it’s a good opportunity to go long on the left side. Keep an eye on the chart.

For Bitcoin, a light position can be taken short at 91,871 during the rebound, and a light position long at 90,092 during the pullback. Watch the volume changes carefully and set stop-losses accordingly.
Only if Bitcoin breaks and stabilizes above 91,325-91,818 on the hourly chart can we look up to 92,862-93,351. If it can't break through this range, it’s useless.
On the 4-hour chart, if it breaks below 90,903, look down to 90,104-89,268. If it falls below 90,903 and cannot recover quickly above 90,000, it cannot hold.

Currently, on the 4-hour chart, Bitcoin is undergoing a complex correction of the upward trend indicated by the yellow arrow on the left. It hasn't broken the starting point of this upward trend, which is at 90,085. If it breaks below 90,085, this consolidation range on the 4-hour chart will also be broken, signaling the end of this bullish trend. The strongest support below is 87,192. Bitcoin has already broken below the median line of the range and has been operating below it. The support at 90,000 is also quite fragile.
Breaking below 90,000 will send it back to the consolidation zone marked by the yellow box on the left, which is between 90,000 and 87,192.
Why is the 90,000 level so important? Look at the white arrow below: the breakout above 90,000 led to the rise to 94,492. The pullback to 90,000 confirmed support, enabling the breakout above the previous high. If you ask whether 90,000 is important, the answer is yes. It’s acceptable for it to fake-break below 90,000, but it must not truly break. A real break would be the end. I prefer a scenario where the price fake-breaks below 90,000, then oscillates around 90,000 and 89,000 for a while before pushing higher. That would be better. End of discussion.