Bitcoin's performance this week has been quite interesting. On the weekly chart, the price surged to around 94,500 but didn't continue higher; instead, it formed a long upper shadow—classic bearish shooting star. This once again confirms my previous judgment: Bitcoin is currently in a range-bound oscillation on the weekly level.

Looking at the high and low points, the entire fluctuation range is confined between 94,500 and 80,500. Moreover, the current price is approaching the upper boundary, with plenty of room downward.

Examining the daily structure, the situation becomes clearer. The price has been consolidating within a bearish flag pattern, but the key point is that last week it failed to break through 94,500 and instead formed a double top. After the double top appeared, the price dropped directly, and now it is pressing on the support level formed by the lower boundary of the flag and the upward trendline. Once this support is broken, the consolidation could evolve into a true downtrend. From the flag pattern perspective, the target level is at 80,500, the starting point of the rally.

Analyzing with Fibonacci levels, the highest rebound reached the 0.5 zone. This 50% retracement level is a key dividing line between bulls and bears in Wyckoff theory, and this resistance is currently quite effective.

On the 4-hour chart, the Vegas channel has been suppressing the price without a breakout. This resistance warrants ongoing attention. Meanwhile, the 4-hour structure formed a head and shoulders pattern over the weekend, which has already broken down. The neckline area has now become a zone for price retracement.

Another key detail is the fixed volume POC area around 90,300. This level resonates with the neckline resistance and also aligns with the middle band of the Bollinger Bands, creating a triple resonance resistance. Such resonance points are often good entry zones for short positions, offering opportunities to bet on a breakdown of the flag pattern.