Looking at the recent Bitcoin trend, the current price is around 92,660, and the overall situation is indeed bearish.

From a technical perspective, the most direct signal is that all moving averages are in a bearish alignment — the 20-day, 34-day, 60-day, 74-day, 120-day, and 200-day moving averages are all above the price, indicating a complete bearish arrangement. This means that whether looking at the short-term or medium-term, the market dominance is in the hands of the sellers.

The MACD is also not optimistic. Both DIF and DEA are negative, with the histogram at -21.6, indicating that the downward momentum is still expanding, and the bearish force is indeed dominant. The RSI(6) is currently at 45.1, which has not yet entered the oversold zone (<30), but this level suggests there is still room for further decline or that the market is still digesting selling pressure.

In terms of price levels, the recent low is 86,810.6, which is a relatively solid support. To alleviate the short-term downward pressure, Bitcoin needs to effectively break above the EMA20 (92,956) and EMA34 (92,988.4). This area then becomes the first resistance.

Overall, this point in time tests patience. The logic for shorting is there, but if there is a rebound, do not be fooled by the 92,900 region — that may just be a pullback for confirmation, not a true reversal.