Bitcoin's Divergence at the 94,000 Level: Rebound or Pullback?

The recent market movements have been quite interesting. That V-shaped rebound yesterday likely caught many people bottom-fishing. We need to carefully analyze the next steps.

**Talking about the 90,000 level**

I've repeatedly emphasized that once the 90,000 level is truly broken, the next bullish target points to 94,000. Why is that? Simply put, 90,000 was a very strong resistance at the time. Breaking through it would mean that the short-term accumulated short positions are likely to be forced to close. To complete this wave of liquidation, Bitcoin's price must reach a higher new high—that is, breaking the previous high is highly probable.

From 90,000 to 94,000, based on technical analysis, there's a 4,000-point upward space. Even if only half of that is realized, there's a 2,000-point profit potential. This is the fundamental logic behind this market movement.

**Two possibilities after breaking 94,000**

Yesterday's price broke through the previous high as expected, and I immediately updated the analysis framework. Based on the current pattern, I see two clearer paths:

1. The rebound continues to extend, targeting the 98,000 to 99,000 range. After completing this rally, Bitcoin may shift into a large-cycle correction on daily and weekly charts. This approach belongs to a more aggressive continuation of the bullish trend.

2. After breaking the previous high, encountering resistance at the next level, a pullback occurs to consolidate before observing the subsequent trend. In this case, patience is needed to wait for confirmation signals.

From a purely structural perspective, both scenarios have a probability of occurring. But if I had to choose the more confident direction...