The weekend market was a real rollercoaster. I thought I could relax for two days, but suddenly on Saturday night, there was a sharp brake. Bitcoin smashed through the Friday low straight from its sideways range, dropping to a low of $87,688, triggering a wave of long liquidations. At this point, retail investors probably started to waver—should they chase a short? Or wait for a rebound to short again?

But guess what happened—a deep V reversal! It shot straight up from the bottom to around 91,700, a surge of 4,000 points, instantly trapping the bears. Honestly, this market is even more unpredictable than the Monkey King; we really need the monk to recite the tightening chant.

Let’s review this move: the pullback started from the 94,185 high, dropping all the way to 87,976 and stabilizing, then sideways consolidation over the weekend. But that weekend night dive to 87,688, followed by a rapid rebound, was clearly a move to shake out both sides.

Next, focus on the 94,000 level. If the rebound can’t break above, it’s just a technical correction, not a trend reversal. Once it breaks 94,000, the next major short opportunity may not come until around 102,000.

Two possible scenarios for this week:
First, 94,000 acts as effective resistance, and the price continues to pull back to test key supports at 88,000, 85,000, or even 80,000. This would be a small bull trap before a deeper move down.
Second, a direct breakout above 94,000, triggering a wave of short liquidations, pushing up to around 102,000, broadly luring retail investors to chase the rally, then slamming back down to the 90,000–85,000 range.

The high short strategy given last night is still underwater—the short positions at 90,500 and 92,000 are a bit awkward now. If you’re already in, hold patiently for now and don’t consider adding positions. If you haven’t shorted yet but are bearish, focus on the 92,000 and 92,500 resistance levels today; you can try light positions, with a stop loss above 94,500 (last Friday’s high before the pullback), and a target of 88,000. Remember to take partial profits along the way.

For Ethereum, the shorts at 3,080 and 3,120 are also stuck for now. The intraday resistance is at 3,200 and 3,250; plan your shorts around this range, with targets at 3,100, 3,000, and 2,900.

Finally, as always, this is just my personal market outlook. The market is ever-changing; no one can be 100% accurate. Gains and losses are normal—having emotions when stuck is normal too, but don’t lose your head. Manage your positions carefully, and if it doesn’t feel right, reduce or exit any time.