BTC is back near $86,500, with dense large-scale transactions appearing on the candlestick chart. Can the price continue to push higher? Looking at the snapshot from September 23, the chart shows BTC quoted at around $86,480, close to the upper range of the 24-hour interval at $86,845. After lifting off the previous $81,500 level, the price has started consolidating around $86,000. Next, we need to observe: can the buying pressure in this range continue to absorb the selling pressure? Breaking down the large-scale transactions on the candlestick chart, we can see two types of actions: increasing long positions and buying back short positions. The chart shows that on September 23, between 10:06–10:17 (chart time), "Maji Big Brother" bought 11 BTC to open long positions at an average price of approximately $86,430, totaling around $950,000. After the transaction, their holdings reached 306.59 BTC. In this 1-hour transaction sample, address 0xe77c…15db bought 25 BTC at $86,250, bringing their long positions to 225 BTC after the transaction. This indicates that some large players are still increasing their long exposure after the price lift. Meanwhile, address 0xbc76…417c cumulatively bought about 66 BTC at an average price of $86,591, but still holds 57 BTC in short positions after the transaction. This set of records aligns more with short covering behavior, and it cannot yet be concluded that this address has turned bullish. Additionally, it’s impossible to determine solely from the transactions whether stop-losses were triggered. Both types of actions contribute to buying pressure, but their impact on subsequent price movements differs. Adding to long positions reflects a willingness to increase holdings. Short covering can also drive prices up in the short term, but as short positions decrease, this buying pressure will gradually weaken. For prices to continue rising, follow-up buying pressure is needed. The total liquidation amount across the network in the past 24 hours was $1.14 billion, with $647 million from shorts and $493 million from longs, meaning short liquidation amounts were about 31% higher. This indicates that during this statistical window, shorts faced greater liquidation pressure. However, this is a network-wide metric and cannot be entirely attributed to BTC, nor can every buy transaction in the chart be explained as forced liquidation. For the market, the most important thing to observe now is: how does the price react after large players buy in? If subsequent long positions continue to appear, BTC could break through the 24-hour high of $86,845 and stabilize near $87,000. This would provide stronger evidence for the judgment that the rally is supported by new buying pressure. If large-scale buying continues to appear but the price struggles to rise, we need to watch whether selling pressure above is absorbing these buy-ins. Large transaction amounts don’t necessarily mean the price will continue to rise; whether buying pressure can push the price higher is the key observation for the next step. The transaction markers on the chart help us see how large players are adjusting their positions, but dense markers alone cannot confirm a trend reversal. The sustainability of this rally depends on how much capital is willing to continue buying after short covering weakens.