Bitcoin hit 96,700 yesterday and then started to falter. It is now fluctuating and oscillating between 95,000 and 95,700. From the hourly chart, although the Bollinger Bands are still expanding upward, the price fails to hold each time it touches the upper band, and the slope of the upper band is becoming flatter. What does this indicate? In the short term, upward momentum is stalling, and the bullish energy is gradually depleting.

What’s more frustrating is that during the rally, trading volume did not increase; instead, during the consolidation phase, volume continues to shrink. This clearly indicates that the bears are quietly accumulating strength, waiting for the next wave of decline.

Given the current situation, the opportunity for a short-term high is quite clear. It is recommended to consider entering within the range of 96,200 to 97,200 as a reference point. The first target is 94,500. If this level is broken, the next target is 92,000. But be especially cautious—once 94,500 is breached, the decline will accelerate significantly. At this point, do not stubbornly hold your position; take profits when needed and avoid fighting against the risk.