Bitcoin today shows a pattern of high-level consolidation and buildup. It started to rebound from a low around 95,400 early this morning, with the highest surge reaching the key resistance zone of 97,150. Subsequently, influenced by short-term profit-taking and regulatory expectation fluctuations, it retreated to the 95,000-95,600 range for consolidation, maintaining a strong oscillation throughout. Ethereum's movement remains highly correlated with Bitcoin, rising from a low of 3,270 to around 3,370. Although it retraced to approximately 3,310, the overall upward momentum remains resilient, and the linkage effect among mainstream cryptocurrencies continues to strengthen.

On the daily chart, the upward channel remains stable. After breaking through the key resistance at 95,000, despite a short-term correction, prices still hold above the 21-day and 50-day moving averages. The synchronized upward resonance of the moving averages has not changed. This pattern indicates that the medium-term trend is still dominated by bulls. The upward momentum formed after breaking the ascending triangle pattern has strong continuation potential. The high-level retracement is essentially a buildup test of key resistance levels, not a trend reversal signal. From the volume structure, institutional funds continue to enter, providing solid support. The BlackRock IBIT fund absorbed $648 million in a single day, and spot ETFs recorded a net inflow of $840 million, ensuring ample liquidity for the market and further reinforcing the robustness of the bullish trend.

The four-hour chart shows a strong oscillation characteristic. Prices rely on the mid-channel support at 94,800 to form effective support. Although the MACD indicator shows a short-term dead cross for correction, the RSI remains above the oversold zone, and the rising flag pattern with higher lows persists. This technical pattern indicates that the intraday correction is a typical bullish shakeout, mainly to digest the trapped and profit-taking orders in the 97,000-97,500 range, accumulating energy for a subsequent push toward the 100,000 mark. Notably, the squeeze effect caused by $700 million in liquidations within 24 hours still provides potential upward momentum. The funding rate for perpetual contracts remains moderate, suggesting the current market is not overly speculative and maintains a relatively healthy state.

Specific trading suggestions: The current market rhythm is clear. Although short-term bullish strength has paused, the medium-term logic remains unchanged. Intraday strategies should focus on retracement-based long positions. Watch the support zone at 94,800-94,300; if not broken, consider trying low buy-ins. Set a stop at 93,800. Aim for targets at 96,800; if stabilized above 96,800, look further toward 98,000 and the 99,000-100,000 range. A substantial break below 94,500 should prompt a shift to a bearish view.