Bitcoin has completed a violent test of a key support level and a quick rebound today, showing that there is strong bullish and bearish contention in the market at the current position.

After the macro headwinds have been initially digested by the market, technical buying has become the main force driving the afternoon rebound.

Currently, the market shows strong resistance above and support below. On one hand, the price faces strong technical resistance above 90,000, making it difficult for bulls to effectively break through; on the other hand, indicators like RSI do not show extreme overselling, and the downside space is also limited by the support level.

The coin price is currently at a critical position, and attention should be paid to the support at 88,000 and resistance at 90,500. Before a clear direction is established, it is advisable to remain on the sidelines. After breaking through the boundaries of the range, consider cautiously following the trend.