Bitcoin's recent moves have left everyone puzzled, right? Just now, a big bullish candle shot up to 94,000, but it couldn't hold and pulled back, leaving a long upper shadow swinging there. This situation is quite interesting—either the price will continue upward next, or we might see a strong correction.

What’s the current market situation? The trend is definitely upward, and the moving averages are showing a bullish setup, so no problem there. But that pin candle just now clearly shows that at around 94,500, someone is desperately dumping. So, the next move depends on whether the bulls can absorb these sell orders or if the bears will take the opportunity to reverse.

Here's my thought process, for reference only:

**First, how do the bulls play it:**

If the price retests the 93,000 to 93,500 zone and can stabilize without further decline, it’s basically an invitation to go long. You can enter in stages, with a stop loss just below 92,500. If the price regains strength and breaks above tonight’s high of 94,488.64 with volume, it indicates the bears' defense has collapsed, and the upside space opens up. At that point, consider adding to your position.

Another key level is 91,278. Treat this as a short-term lifeline—if it doesn’t break down effectively, the bullish logic remains intact, and long positions can be held.

**Next, how to handle the bears:**

If the price attempts to push further up to 94,500 or higher but can’t stay stable and quickly reverses to form a double top or long upper shadow, that might mean the bulls have exhausted their strength. In this case, try a very small short position near the resistance level to gamble on a correction. Note: very small size!

If the price drops rapidly and breaks through both 93,000 and 92,500 supports consecutively, it could mean tonight’s breakout has failed, and the trend risks turning bearish. You can follow with a light short position.

But! Trading against the trend requires strict stop-losses. All short positions should have stops set above 94,600. Once a new high is made, indicating your judgment was wrong, close the position immediately.

In short, this level is quite critical now—both bulls and bears are vying for control. Whether it breaks through further or undergoes a deep correction, we’ll likely get an answer tonight.