Bitcoin's current price hovers around 94,000, with the 1-hour moving averages in a bullish alignment. EMA5 not only remains above EMA10 and EMA250 but also significantly exceeds the midline (93,225) and the EMA20 crossover support level. The short- to medium-term upward trend is healthy and strong. However, EMA5 (94,048) is nearly flat with the current price, indicating that the market is likely to enter a high-level consolidation phase.

From a technical indicator perspective, MACD maintains a golden cross but shows weakening momentum and converging signals. DIF (664) is above DEA (603), and the histogram is positive (121), confirming the continuation of the upward trend. However, the histogram length has not significantly expanded, so caution is needed for potential bearish divergence and pullback risks. The Bollinger Bands' price is close to the upper band, reflecting market strength while also indicating short-term overbought conditions, with a possible technical reversion toward the midline (93,225). The RSI's three lines are approaching the overbought zone, with values concentrated between 60-70, indicating strong buying pressure. However, after approaching the 70 overbought level, it begins to decline. If it cannot effectively break and stabilize above 70, the probability of a short-term correction increases. The KDJ indicator's three lines are running at high levels, with K (78) and D (81) in the overbought zone, and J (71) turning downward with the three lines converging, signaling a potential death cross and an important short-term adjustment signal.

In terms of trading strategy, caution is advised against chasing longs at high levels in the short term. The medium term can remain bullish supported by continuous capital inflows and a healthy moving average structure. Given the short-term overbought RSI, KDJ death cross signals, and Bollinger Bands' upper band resistance, the price may need to consolidate or pull back, making a direct breakout of resistance levels more difficult. Existing long positions can be gradually reduced to take profits, paying attention to the second resistance and breakout of the daily EMA80. Look for opportunities to establish high-altitude short positions. Support below is based on the 1-hour midline and EMA30 zone, continuing to position for trend-following longs.

For Bitcoin, consider entering long positions in the 92,500-93,500 range, with the first target around 94,500-95,200. If this target zone is effectively broken, further upside targets include 96,400 and 98,100 key resistance levels.