Bitcoin reached 91,999 and then failed to go higher, now turning downward. From the 1-hour K-line chart, the current price of 90,420.7 has broken through the support levels of MA5 (90,625.7), MA10 (90,693.2), and MA20 (90,705.2), indicating that selling pressure is indeed quite strong.

Looking at the technical indicators, they are all showing weakness—RSI is only at 43.0, in a neutral to slightly bearish zone; the MACD green bars are continuously expanding, and the divergence between DIF and DEA is also very clear (-84.0 vs -60.3), which is basically a bearish signal. The bulls are unable to sustain buying, and the main force is likely starting to offload and dump.

Currently, it might be advisable to open a short position directly, with a stop-loss set above the previous high of 91,999.0 to provide a buffer. The short-term target is the 24-hour low of 89,632.8. If this level cannot hold, the next support is at the previous low of 89,242.0. For trend trading, hold firmly; short-term traders can take profits in stages at key support levels.

Be cautious that if the main force continues to dump using this breakdown pattern, they might break through several key supports in one go, so watch your stop-loss carefully to avoid getting trapped.