On December 14, 2025, Bitcoin exhibited a narrow range of fluctuations during the afternoon, positioned at a critical directional choice node, with a tug-of-war between bulls and bears. The specific analysis is as follows:

1. Price and Key Levels: The afternoon price fluctuated in the range of $90,000 to $92,000, returning to the psychological level of $90,000. The upper key resistance zone is $94,150 to $94,236; if broken, it can look towards $96,000 and $100,000 levels. For support, the initial focus is on $90,000, and if it breaks below, it may test the $85,900 to $86,300 area. A failure to hold $89,000 could disrupt the rebound structure.

2. Technical Indicator Signals: The daily MACD chart shows a bullish signal, but the RSI has not effectively broken through the midpoint of 50, indicating weakening upward momentum. The 4-hour chart has formed a triangle consolidation at the end, constrained by a descending trend line, with expectations of a "double top" pattern. There is a clear divergence in short-term bullish and bearish signals, and the trend remains unclear.

3. Overall Market Situation: The Fed's interest rate cuts have been digested in advance, coupled with weak earnings from U.S. tech stocks dragging down the market, resulting in decreased market liquidity, and traders are generally on the sidelines. On-chain data shows that institutions' "whales" continue to increase their holdings, retail positions remain stable, but altcoins are generally retreating. Funds are leaning towards flowing back into Bitcoin for hedging. The subsequent trend will focus on the breakthrough situation of the $94,200 resistance and the stability of the $90,000 support.