BTC has been oscillating for four consecutive days on its upward trend, and it has now retraced to around 90,000 — this is indeed a tough nut to crack.

Currently, the daily chart is just moving sideways within a range; honestly, both upward and downward movements are possible. The direction is still unclear.

My judgment is as follows: the bulls are already showing obvious signs of fatigue. If the bears can clear the stop-loss orders of the bulls around 80,000 and then push back to the 94,000-98,000 range, this scenario has the highest probability. When encountering such a situation, it’s most prudent to liquidate a large portion of spot holdings at high levels.

Of course, there is also an extreme possibility — that is, failing to break above 90,000. In this case, although the stop-loss orders of the bulls are cleared, the subsequent decline won’t be smooth; instead, it may zigzag back and forth, falling wave after wave.

No matter how it unfolds, friends holding full spot positions should gradually reduce their holdings before reaching the 98,000 level, managing risk properly. This doesn’t mean to sell everything at once, but to systematically offload a significant portion.