Bitcoin started to correct from the 97,900 level, and by early morning, it bottomed out at 94,200, which is in line with the expected red support line. A rebound is a very normal rhythm.

From a technical perspective, the ideal rebound target is in the 92,500 to 93,000 range, but whether it can reach that level still needs to be observed. The next key point is to watch the performance of the time cycle — whether it continues to consolidate sideways and consume time from Monday to tomorrow, or if it rebounds and continues the downtrend. This will determine the subsequent rhythm.

My short position strategy is to exit all at 93,500 to take profit. Short-term resistance for Ethereum is around 3,220 to 3,200, and I am also preparing to reduce my position at this level.

For long positions, there are still opportunities. The four-hour trendline is at 92,300. As long as this level is not broken downward, it is likely to support the next rebound. More importantly, on the daily chart — the 200 moving average at 99,500 must be broken through. Once broken, it could extend upward to around 103,000. So instead of rushing to chase higher prices, it’s better to be patient and wait for clearer signals. There is still a chance to get on the bullish wave, so don’t be too hasty.