The recent market trend indeed warrants a thorough review. Only by clarifying the thinking can we see clearly how to proceed.

**A Review: What Happened After Breaking Through the 90,000 Level**

When Bitcoin first broke through the 90,000 mark, we issued a clear signal — once it stabilizes above this level, the next key target is 94,000. This price point is not chosen arbitrarily; it corresponds to a previous significant high, serving as a critical short-term upside target.

The subsequent market movement indeed followed this path. From 90,000 to 94,000, roughly a 4,000-point increase. Many traders made substantial profits during this process, but the key question is — what should we do after the price reaches 94,000?

We repeatedly emphasized at the time: do not chase long positions at this level. The logic is simple — the difficulty of pushing higher from a high level increases. A more rational approach is to look for potential pullback entry opportunities.

**High-Level Pullbacks Are the Next Focus**

Near 94,000, the thinking is quite clear:

First, avoid continuing to go long at such a high level; second, patiently wait for a decline to see if the price can return to support levels, then observe whether a new bullish structure can form there. If the previous resistance level truly turns into a new support, that would be a better entry point for long positions.

From a short-term perspective, our judgment is: wait for a pullback, don’t rush to chase highs.

**The Most Difficult Question Right Now: Is This Rebound Over?**

The biggest suspense currently is — has this surge targeting the previous high completed the entire rebound cycle? Or is this just a phase of upward movement after clearing out short positions, with more stories to come?

This is the biggest point of disagreement at the moment and also determines how we should operate next.