Monday morning at 1.5 weeks

Bitcoin surged to 92390 then fluctuated, clearly forming a temporary high point resistance. It has not broken through this high level, and the bulls' upward momentum has already weakened.

From a technical perspective, the short-term MA7 moving average has started to decline, inconsistent with the MA30 trend. The price oscillates around 92200, unable to stay above the moving averages, indicating insufficient buying strength in the market. In terms of candlestick patterns, a pullback after a surge has formed a bearish engulfing pattern, and during the correction, the size of the bearish candles has increased, showing continuous selling pressure.

Regarding support and resistance, 92500 is a short-term strong resistance. Support levels are at 90800-91000, which were briefly broken during the previous pullback, weakening the support strength. If the price cannot quickly rebound to the key level of 91500, it is likely to fall back to the 89800-90000 range.

Trading suggestion: Short at 92500-93000, target 91000-91500.