Bitcoin's rebound is lackluster, with the 91500 level becoming a lifeline for bears, and the market is likely to be under pressure.
The brief stabilization around 90300 is merely a weak counter-trend bounce in the downward movement and does not signal a bottoming out. Observing the current volume structure, the rebound lacks sustained buying support, representing a typical bullish trap. The 91500 level above constitutes a key resistance point, as it is both the resistance zone converted from the lower edge of the previous consolidation range and a suppression range of the short-term moving averages. If the price cannot effectively break through and stabilize above the 91500 level, the bulls will completely lose the initiative, and the subsequent market is likely to initiate a new round of declines, with a clear and firm bearish trend.
In the evening, the market can be focused around 91000 and near 91500 for short positions. The target is 89000, and if it breaks, it will continue to look down at 87500.
