The CME gap for BTC has been successfully filled, and currently, the price is hovering around 91,000 with continuous fluctuations. The previous attempt to reach 94,800 was unsuccessful, showing clear resistance. The question now is: is this just a short-term adjustment on the hourly chart, or is a daily downtrend about to unfold?

My judgment is that although a correction is underway, the overall trend does not look bad. Looking at the 4-hour chart with MA200 and MA120, their upward trajectories are basically parallel to 90,300, which now serves as the strongest short-term support.

The 90,800 level mentioned yesterday has also held, and in the short term, it still provides support. Our long positions have already entered, with an expected rebound of about 800 points.

The early trading strategy is as follows: in the short term, first see if 92,300 can be broken through; at least it needs to stabilize above this level to have the potential to continue upward. Otherwise, it may still decline further. In terms of operations, continue to go long in the range of 90,800 to 90,300, with targets around 92,000 to 93,000.