Be careful of wishful thinking. The truth is we don't know much of what is happening at this stage. I wouldn't put too much store on China's abstention right now since they also did this during the annexation of Crimea. It's only been a short time since the invasion began, so to say Russia hasn't rolled over the whole of Ukraine this morning does not show their invasion is bogged down.
I do hope the Russians pull back but I can't see them doing that without inflicting as much damage as possible first in order to bring all the cards to the negotiation table and partition the country.