Bitcoin is now stuck in a critical range—between 94,000 and 96,000 USD. This is not just a simple sideways consolidation but a real confrontation between bullish and bearish funds.

From the liquidation data, the situation is very clear. If the price breaks below 94,000, the system will trigger long liquidations, totaling $442 million. This will cause a chain reaction, with stop-loss orders for longs being hit one after another. On the other hand, if the price breaks above 96,000, bears will face a liquidation pressure of $250 million, and forced short positions will push the price further upward.

On-chain data has been continuously monitored these days. Large traders have placed numerous large orders at these two levels, with an unusually high density. These two price points are no longer just technical support or resistance levels but have become the core battleground of sentiment. Which one the price breaks first will determine the market’s acceleration direction.

My judgment framework remains unchanged:

If it breaks upward, focus on the 98,000 to 100,000 USD range in the short term. The chain reaction of long liquidations will amplify the momentum upward.

If it moves downward, and cannot hold above 94,000, the correction will first seek support around 92,000 to 90,000 USD. Bulls need to proactively manage risks.

No need to guess blindly about the direction; the key is how the price performs at these two levels. Previous resistance level judgments have been validated, and with the data in front of us, the logic is fully sound. I still favor the probability of a breakout.