US stocks' bullish momentum resumes, and Bitcoin has been climbing from around 92,000, currently hovering at 93,632, just shy of the January 6th all-time high of 94,415—less than 1% away. The ferocity of this rally can be seen from yesterday’s crushing defeat of the bears—short positions bottoming near 90,400 and the defensive line at 92,500 were all wiped out, a classic short squeeze pattern.

From a technical perspective, the strong trend is now widely recognized. The 92,500 level has undergone a role reversal—transforming from a strong resistance into a solid support. In the short term, the market has only one goal: break through 94,415 and surpass 95,000. This is not enthusiasm; it’s an inevitable trend.

Let’s analyze the key levels. Looking downward, 93,000 is a newly broken integer level and serves as an initial defense line after the sharp hourly rally; the 92,400 to 92,600 zone forms a core support band—what was the "ceiling" the day before yesterday has now become the "floor"; further down is 91,500. If this line is lost, tonight’s upward push could be a false breakout, but the probability of that is very low.

The upward pressure is even clearer. 94,000 as an integer level will attract some profit-taking; 94,415 is the previous high resistance—breaking through here would signify a true breakthrough of the all-time high; further out, 95,500 aligns with the 1.272 Fibonacci extension level, representing the extreme release of short-term sentiment.

Where is the current position at 93,632? It’s in the accumulation phase before challenging the previous high. The bulls’ logic is simple—if the trend is clear, push upward. Don’t top out and short at this level; the main force is too close to a new high and may directly push through 94,415 in one go. For the bears, it’s even more straightforward: give up. Unless there’s a clear pullback from 94,415 to 94,500 forming a double top, counter-trend trading is pointless. US stocks may see a slight pullback at the close, but as long as the 92,500 line holds, a new high is only a matter of time.