Bitcoin continues to fluctuate around $92,500, with bullish momentum still in the accumulation phase. In the short term, it’s advisable to maintain a low-position layout.

From the price trend perspective, after Bitcoin previously surged to $96,000, the main funds did not directly push towards the $100,000 psychological level but instead chose a deep retracement. Currently, it oscillates around $92,000, which has become a key short-term support level.

On the daily chart, the price is trading within the $92,000-$93,600 range at the time of writing. Interestingly, the EMA30 moving average precisely aligns with the $92,000 level, forming a strong support. The next focus should be on the 0.168 Fibonacci retracement level. Technically, the first target in the short term is $94,200. If this level is effectively broken, it could signal further upside; however, if it faces resistance and pulls back, it’s recommended to take short-term profits and wait for the next entry opportunity.

Indicators show that the MACD histogram is still red, but the increasing volume trend is diminishing, and the DIF and DEA lines are beginning to converge. The price has fallen back to the middle band of the Bollinger Bands (around $92,350), with resistance above near $97,200. From a pattern perspective, a technical correction is indeed needed in the short term to release pressure.

Switching to the 4-hour chart, the situation becomes clearer. The $94,200 level is a critical resistance point for the current upward move. Interestingly, it coincides with both the trend top and the Fibonacci resistance level, forming a resonance resistance zone. The MACD continues to shrink, and the DIF and DEA lines are converging. The middle Bollinger Band has moved up to around $94,500, and the price has established a short-term oscillation range between $92,000 and $94,200.

Although the KDJ indicator has formed a golden cross, the bullish momentum in the market has not significantly amplified, indicating that the bulls are still in the accumulation phase, and momentum has not been fully released. Based on this, the short-term trading strategy should focus on swing trading—buying low near support and selling high near resistance, utilizing the range boundaries for profit.

Intraday specific trading suggestions: Consider long positions around $92,000 and $91,500, targeting approximately $93,000 and $93,800. The idea is to buy low near support and profit from the box range fluctuations.