It's 3:30 AM Beijing time, and Bitcoin has just surged to the 93,700 level. How do you view this wave of market movement? In simple terms, the main force has tested the 90,000 level twice this week, providing opportunities for those wanting to chase the rally. If you missed out and are now watching the market stand so high, you should indeed be cautious.

From the daily chart perspective, the latest high reached 93,840, with a low retracement to 91,000. The EMA trend indicator shows slight contraction, but not very obvious. What does this mean? It indicates that the bulls haven't fully exerted their strength yet. Resistance levels are still focused on the 94,000 to 95,100 range, and the upper band of the Bollinger Bands has also touched 94,300. The MACD is performing well, with increasing volume and bullish momentum; the DIF and DEA have already stabilized above zero, implying further upward movement is possible. In the short term, the trend points north; in the long term, we need to keep observing, as standing so high can lead to a pullback.

Switching to the four-hour chart, the market is pushing against the 0.618 Fibonacci retracement level, specifically around 94,200. The MACD continues to expand in volume, with a golden cross widening, which is a typical strong bullish signal heading north. The Bollinger Bands are opening up, with the upper band reaching 93,000, and the candlesticks are continuously closing positively, stretching near the upper band. For those who chased the rally near the 90,000 level, consider taking some profits now to lock in gains, while keeping the core position to see if it can go higher.

As for trading advice, risk always comes first. If the price doesn't break below the 92,000 to 91,000 range, the upward trend remains intact. Set a stop loss at 400 points, with targets at 93,000 to 93,500. If it breaks below, then look at 94,000 to 94,500. On the upside, if the price doesn't break above 94,500 to 95,000, it might turn south; again, set a stop loss at 400 points, with downside targets at 94,000 to 83,500. If it breaks below, then watch for 93,000 to 92,500.

However, market conditions are never 100% certain, so always use proper stop-losses. Small losses for big gains is the key to long-term survival. Rely mainly on real-time data; these analyses are for reference only, and all risks are at your own discretion.