Did you notice? BCH has quietly climbed above the key neckline at 570. Next, it's very likely to test the previous cycle's high region—between 620 and 640.

This level is no joke. Historically, it's formed tops here multiple times, making resistance pretty solid. I'm thinking, if the price really surges to around 640, opening a short position there will most likely capture a decent pullback. You might even catch the local top.

Look at the current market environment: a lot of altcoins have been cut in half, but BCH is nearing its previous highs. Shorting at this level actually has a pretty good risk-reward ratio. Even if the trend doesn't reverse immediately, with such strong resistance at the previous high, there should at least be some correction, right?

For execution, I recommend using 1x leverage for the long-term position. That way, you won't get liquidated and can stay calm. Even if it’s a fake breakout and you get stuck, just hold on. Remember when we shorted ZEC last time? It took three whole weeks to play out. Some trades just need time to prove themselves—there’s no rushing it.

Now about BTC. This round of rebound is really strong, mainly driven by Fed rate cut expectations. Before the rate cut, I didn’t recommend shorting major coins, precisely because of this major bullish factor. Although the sudden rate hike in Japan disrupted things a bit, the direction of longing from the bottom was correct, and it looks like we nailed it.

Currently, BTC is near a minor resistance at around 93,000. You could consider reducing some positions here. Of course, the ideal target is the 97,000 to 98,000 range. With a week left before the rate cut, it’s worth observing a bit longer. If it really reaches that level, go straight for a short. If it can’t get there, that’s fine too—just start building a longer-term short position at the current price a day or two before the rate cut.

My view is: once the rate cut actually happens and the "good news" is fully priced in, the market will likely see a 10% to 20% or even deeper correction. This will be the biggest opportunity in the near term, so be sure to time it right.