Last night, Bitcoin broke through $95,500, but the upward momentum has been insufficient in the past two days. Despite being at a high level, it shows signs of being 'overheated'.

For instance, trading volume surged around $95,000, but no effective breakthrough was achieved, with intense competition between bulls and bears, and investors are in a wait-and-see mood. In this situation, the market is susceptible to manipulation by large players.

Bitcoin continues to test the $95,500 - $96,500 range, which is a resistance level that has been unable to break through multiple times in the past.

Even though a new high was reached, the Relative Strength Index (RSI) did not rise in tandem, but instead declined, indicating a lack of upward momentum and weakening upward forces in the market.

The price turned downward from around $95,700 - $95,200, with a short-term target possibly pointing to the $93,000 - $92,000 support range.

If this support level is broken, it may trigger a new round of declines; conversely, if it stabilizes here, it may welcome a rebound opportunity.