Good evening everyone! Today's Bitcoin movement has truly been a roller coaster. Just now, it was near the previous high of 94555, prompting many bullish traders to exclaim "10万 is just around the corner," only to suddenly reverse sharply and break below the bearish flag pattern. Market sentiment has dropped from high to low in an instant. No need to beat around the bush—let's directly discuss my view on this wave of market action—understanding these key points will make your next steps clear.

First, the core point: although breaking the previous high is indeed a strong signal, the move to break the flag pattern requires caution. Currently, the market is caught in a life-and-death situation between bulls and bears. The key is whether the rebound can climb back into the bearish flag pattern. If the rebound is weak and fails to recover, testing the support level at 92617 is highly probable; if this level cannot hold, the next focus is on 91472. At that point, the short-term trend may shift to sideways or even downward—I'm not trying to scare you.

Here are two particularly practical short-term reference levels, which are more reliable than blindly guessing the market direction. The first is 93451. If volume supports and the price stabilizes here, entering long positions is relatively safe. Conversely, if 93226 is broken with high volume and the price cannot rebound afterward, short-term downward risk should be guarded against. Staying on the sidelines or holding light positions with proper stop-losses is more prudent—don't forget to manage your risk.

Looking at different timeframes, the logic is quite clear. On the hourly chart, 93991 is a critical threshold. Only if the price breaks through and stabilizes above this level can there be a foundation for further upward movement. Grasping these key points is much more reliable than blindly chasing highs or selling lows.