#BTC Intraday Analysis

1️⃣ Structure Interpretation
Bitcoin's current price fluctuates around $89,700, maintaining mostly near $90,000 throughout the day. Overall, it appears slightly pressured compared to previous days. Recent market sentiment is related to political risk events, while the rise of safe-haven assets like gold and silver also exerts pressure on BTC. Current price action characteristics: BTC consolidates in the $88,000–$90,000 range, unable to clearly break above resistance; after a previous pullback, short-term bullish and bearish forces are testing the structure repeatedly, rather than forming a one-sided trend.

2️⃣ Capital Flow, On-Chain & Exchange Dynamics Observation
No public on-chain reports indicate large-scale autonomous BTC withdrawals to exchanges or significant outflows from exchanges. No abnormal passive stop-loss style net inflow/outflow data from exchanges has been observed. There is no precise ETF capital flow data for the day, so it cannot be confirmed whether there is a net inflow or outflow;
The overall market today shows an unclear direction and cautious capital participation. Based on current available on-chain/exchange dynamics, short-term capital flow does not show clear trend signals, and most market participants are in a wait-and-see or oscillating trading state.

3️⃣ Intraday Observation & Key Positioning Deduction
Bearish Perspective
If resistance at zone 2 repeatedly encounters strong selling pressure signals (such as long upper shadows or weakening volume), consider a small short position; those planning to add positions can refer to zone 3 resistance. Focus on support zone 1; place stop-loss at a break below zone 3 resistance.

Bullish Perspective
If BTC can break through zone 1 resistance, then a pullback to confirm entry for long positions is relatively safer. Consider small positions to go long with the trend; set stop-loss at a break below support zone 1; initial target is the resistance zone 2 above.

4️⃣ Risk Reminder
1. Based on today's capital and structural situation, the main risk for BTC today is a false breakout risk:
- If the key price level is pierced upward without significant volume increase, it may be a "false breakout" followed by a pullback;
2. Increased risk of safe-haven assets attracting capital:
- As market risk sentiment rises, funds may flow from risk assets to gold and other safe-haven tools, intensifying short-term pressure on BTC;
3. Macro/policy disturbance risk:
- Recent political and macro news have been volatile, which could instantly amplify short-term fluctuations.