These past few days, Bitcoin has really been stuck. Honestly, there's been no movement at all. Watching it every day, my blood almost congealed.

After the rally, it entered this consolidation and sideways trading phase, grinding back and forth all day without any clear direction. The price has been oscillating within the box, and after all the fuss, it's still stuck in the same place.

The key levels are just a few: as long as it doesn't break the midline at 91354 and continues to operate above this level, there’s no need to worry about testing the lower boundary at 89374. Once it falls below the midline, the 89374 level will definitely need to be tested again.

The 92743 level has already been attempted four times to break through, and each time it failed. If it can't break through after two more tries, then a correction is inevitable. Honestly, if we can't clear the 92743 hurdle, the rally can't continue. Only by breaking through 92743 can we look towards the previous high around 94543. Currently, the situation is oscillating within the range of 92743 to 91354, which is relatively ideal for a sideways move.

The trading strategy is as follows: if Bitcoin breaks above 92574 with volume, consider chasing long; if it falls below 92065 with volume and cannot recover on the rebound, then look for short positions on the right side. Regardless of the operation, stop-loss must be set properly.

On the hourly chart, the key level remains 92743. As long as it holds here, the upside space opens up to 93600 and 94543, forming a complete upward range. But if it can't break through 92743, then a rally is unlikely.

On the 4-hour chart, 92049 is a critical level. Falling below this, the next support levels are 91462 and 90289. As long as 92049 can't hold, an adjustment phase will be triggered.

Looking at the moving averages, Bitcoin has been bouncing between the EMA20 and EMA50 in recent days, going up and down. After breaking above EMA20 and EMA50 in the early morning, it tested support again, and the EMA20 support was effective. But then it didn't continue higher; instead, it closed two doji candles back-to-back, which isn't an ideal signal.

As long as the 4-hour chart hasn't broken above the EMA200, the downside risk hasn't truly been resolved. Currently, the dilemma is that Bitcoin is stuck between EMA20 and EMA50 — with potential for either upward continuation or a sharp decline. At such times, it's better not to rush into trades; the best approach is to wait until it shows a clear direction before entering, making the risk more controllable. The key still lies in observing the volume changes, which are crucial.