Today, Bitcoin continues its oscillating upward trend, with the upward momentum further strengthening beyond expectations, breaking out into a strong rally. The market started its ascent from the low point around $92,150 early this morning, steadily climbing and repeatedly breaking through multiple short-term resistances, reaching a high of around $94,634. The 24-hour increase is 1.52%, successfully stabilizing above the $93,000 level and hitting a three-week high. Ethereum remains highly correlated, steadily following the upward move from around $3,160, with a peak at $3,264, showing a steady and robust upward trend throughout, with the market's linked effect continuing to be prominent.

On the daily chart, the upward channel continues to expand in an orderly manner, further consolidating the pattern. After sufficient accumulation and bottoming in the previous period, the price formed a small consecutive bullish pattern. The 5-day and 10-day moving averages formed a golden cross and diverged upward, with the moving average system resonating in an upward trend, indicating that the bullish dominant trend structure is becoming more stable and sustainable. On the four-hour chart, the strong upward momentum persists, with the price steadily climbing along the upper band of the channel. The MACD indicator remains in a bullish expansion state, with good volume-price coordination, further solidifying the foundation for the daily trend. However, it is important to note that the RSI indicators on the hourly and four-hour charts have entered overbought territory, indicating potential short-term pullback pressure.

The news provides strong support for the market. Spot Bitcoin ETFs continue to see net inflows, Tether has increased its Bitcoin holdings by nearly $800 million, combined with expectations of Federal Reserve rate cuts and favorable crypto regulatory policies, injecting continuous momentum into the bulls. Currently, the market shows that bullish forces are still accumulating. The brief pullbacks and dips during trading are not signs of trend reversal but are rather consolidation actions in the $93,000-$95,000 range to absorb selling pressure and prepare for further upward movement. In terms of strategy, the focus remains on retracement-based long positions, with particular attention to support in the $92,000-$93,000 range. If the price stabilizes after a correction, it can be followed up accordingly, while remaining cautious of resistance near the $95,000 level.

Therefore, the overall approach should be to monitor the breakout of the key resistance at $94,500 and the support at $92,500 for trend-following operations.

Specific trading suggestions: Pay attention to support levels at $92,500-$91,800 and $91,000-$90,300. If these hold, consider entering long positions with a target of $94,500. Based on the breakout and pressure at $94,500, consider following the trend or attempting a counter-trend move. If the breakout of $94,500 is confirmed and stabilized, look toward $99,000-$100,000.