Bitcoin is currently under pressure at high levels. Around 92,000 has become a strong resistance, with selling pressure encountered each time it approaches. The key support below is at 89,000; whether this level can hold directly determines the subsequent direction.

Recently, although various airdrop projects have been very popular, this wave of enthusiasm seems unable to support the overall market. Instead, mainstream cryptocurrencies are still oscillating and weakening. In the short term, the bearish sentiment remains quite strong.

In terms of specific operations, short positions can be taken in the 91,000 to 91,500 range for a high-level setup, with targets aimed at 89,800 or even 89,500. If aiming for a rebound, only light positions should be taken, provided the market does not effectively break below 89,000.

The most critical point is the 89,000 support line. If it breaks, the downside could open further; conversely, if it holds, there is a chance for stabilization and a rebound. The performance at this level is enough to change the overall trend judgment.