Analysis and Trading Strategy for the Afternoon Market of Bitcoin

This morning, Bitcoin surged to 89600 before quickly falling back, currently oscillating around the 88800-89000 range, with the market in a critical stage of long and short battles. Core operational principle: focus on range trading, strictly adhere to risk control discipline, and wait for effective breakout signals before positioning accordingly.

1. Core Support and Resistance and Market Analysis

1. Resistance verification: Early morning surge faced pressure, with significant selling pressure in the 89000-90000 range, becoming a strong resistance zone in the short term, and bulls have yet to possess effective breakthrough momentum.
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2. Support Anchor: The key support level for the options market "Gamma Wall" is at 85000, where there is significant buying support, making it likely to become the limit for a short-term pullback; the secondary support level is between 87500-88000, which can serve as a reference for range trading.
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3. Emotions and Volatility: The current market shows an increasing divergence between bulls and bears, with volatility remaining high. The sentiment is cautiously optimistic, and aggressive operations are not advisable until the direction becomes clear.

2. Refined Trading Strategies

(1) Interval High Selling and Low Buying Strategy (suitable for spot/light leverage)

1. Positioning at highs: When the price reaches the range of 89000-89600, reduce spot positions in batches or try shorting with light positions, with a strict stop loss set above 90200 and target looking down at 88000-87000.
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2. Buy on dips: When the price falls back to the 85000-86000 range and shows signs of stabilization (such as long lower shadows and shrinking trading volume), gradually accumulate the spot, with the stop loss set below 84500, and the target looking at 87500-88500.
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3. Neutral Observation: When the price hovers around 88000, avoid chasing rises and falls, and focus on observation, waiting for clear signals at the boundaries of the range.

(2) Breakthrough Trend Following Strategy

1. Upward breakout: If the price breaks out with volume and stabilizes above 90000, and confirms a pullback without breaking, add positions to follow the trend, targeting 90800-91500, with a stop loss set below 89500.
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2. Downward Break: If the price breaks below the key support of 85000 with increased volume, exit immediately to observe or take a small short position, targeting a drop to 83000-84000, with a stop loss set above 85500.