Sounds more like Bipolar 2, but there is a possibility it can be Bipolar 1 since mania can present differently in each person. What you describe reminds me of when I'm hypomanic or maybe in the very beginning beginning of true mania. My mania usually goes from being euphoric to dysphoric quite fast. I start getting paranoid, suspicious, but still elated with high energy, agitation, and lack of sleep, impulsiveness, disorganization, and lack of control. It's also extremely hard to focus, and I get the whole "flight of ideas."

Sometimes these features all at the same time can signify that it is BP1, especially if psychosis is involved, although not everyone BP1 experiences delusions/hallucinations. The consequences of mania are usually more severe than hypomania. It doesn't always result in hospitalization, but it definitely causes damage.