After BTC dipped to 89,600 in the early morning, it rebounded to 91,300 but faced resistance. In the morning, increased short positions pushed it back down to 89,800, with the overall movement showing range-bound consolidation.

Moving averages continue to trend downward. The daily chart has two consecutive bullish candles, but with limited strength. The 4-hour chart shows significant pressure and pullback, with prices retreating after hitting the upper channel, weakening bullish momentum and technical structure as it fails to break the previous high.

The hourly chart indicates consolidation with no clear directional trend. There is fierce long-short contention around the 90,000 level, so the main strategy going forward remains to focus on short positions at higher levels.

BTC: Consider shorting near 90,800-91,600, targeting 89,000-88,000#BTC