The market has been fluctuating within a range for a week and has still not been able to break free from the oscillation. It has now returned to the support level near 93000.

Currently, the four-hour chart is repeatedly oscillating between 93000 and 98000, and it is also about to close the annual and monthly lines. The overall increase of Bitcoin in 2024 has reached 165% so far. Since breaking the new high at the beginning of the month, the monthly line has retraced by 20%. If the market continues to drop below the support range, we will see levels around 83000-86000. If the price breaks this level, please be cautious with risk management in the upcoming days. The intraday resistance levels are 94300 and 95200, while the support levels are 92200 and 91600. The strategy should maintain a bearish outlook.

Short at 94300, add to the short position at 95000, with a stop loss at 95300, and a target of 92000-91600.