A New Perspective Amidst the Sharp Decline

$BTC Evening Viewpoint:
The saying "Advance the supplies before the troops move" is perfectly applicable to the current Bitcoin situation. Before the US stock market opens, Bitcoin has already delivered a warning shot.
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 an even lower low. If the rebound cannot recover and stay above 91,325-91,812, it will continue testing the support at 90,350. If 90,350 is broken, the next support is 89,265. To stop the decline, it must regain the 91,325-91,812 zone; otherwise, it cannot halt the decline even slightly. The reason it isn't falling further now is waiting for the US stock market to open. When it 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 on the left side during a rebound, and a light long position can be taken at 90,092 on the left side during a pullback. Watch the volume changes carefully and set stop-losses.
Only if Bitcoin breaks above 91,325-91,818 on the hourly chart and stabilizes can it aim for 92,862-93,351. Without breaking this zone, it’s useless to expect higher.
On the 4-hour chart, if it breaks below 90,903, look down to 90,104-89,268. If it cannot recover above 90,903 promptly, the 90,000 level cannot be maintained.

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 has not yet broken the starting point of this upward trend, which is at 90,085. If it breaks below 90,085, this 4-hour consolidation range will be broken, signaling the end of this bullish trend. The strongest support below is 87,192. Bitcoin has already broken below the midline of the range and has been operating below it, making the 90,000 support quite fragile.
Breaking below 90,000 will send it back to the consolidation zone marked by the yellow box on the left, oscillating 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 of the previous high. If you ask whether 90,000 is important, the answer is yes. It’s acceptable for it to fake below 90,000, but it must not truly break it. A real break would be the end. I prefer a scenario where it 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.