Last week, the market experienced a clear rebound, with gold and global stock assets rising in unison, and related cryptocurrencies also being driven up. However, it is still difficult to judge how long this strong rally will last. The most important thing is to maintain discipline—don't chase after rising longs if you can't keep up, cut losses on wrong shorts promptly, or if your position size is small enough, hold and observe. The crypto market has been playing the high open and retrace routine for many years; precautions are still necessary.

Last Friday, the short positions opened around the 89,500 and 90,500 levels for Bitcoin, and the second short at 3,100 for Ethereum, all eventually hit their stop-loss levels. Although there were signs of sideways movement over the weekend, the retracement was not significant, and the overall trend shows a consolidation phase.

From a technical perspective, Bitcoin's weekly chart closed with a medium-sized bullish candle, with the Bollinger Bands still opening downward and declining, and the MACD bearish momentum continuing to shrink, indicating that selling pressure is gradually easing. Both the KDJ and RSI indicators are trending upward, suggesting that this rebound strength should not be underestimated. On the daily chart, Bitcoin is forming a small rounded bottom pattern, and after breaking above the middle band support, it has consecutively closed four bullish candles, breaking through the previous resistance at 91,000, with a high of around 93,380.

The next target is the previous high of 94,400, which is likely to be tested, but it will probably encounter strong resistance there—many bears will be lurking with short positions at this level, making it a defensive price point for many contrarians. Investors should stay alert, avoid chasing the rally, take profits when available, prioritize exiting losing positions, and avoid blindly adding to positions.