BTC has once again tested the 94 level, a historic resistance level. In the futures market, bears are gathering, and in the short term, both bulls and bears will inevitably engage in a fierce tug-of-war. Breaking through upwards is not easy, but don’t be swayed by public opinion—don’t rush in just because you hear “the bull market is coming”—that’s the easiest way to get caught.

From an operational perspective, low-leverage long positions do have opportunities. Friends who entered the market between 88 and 91 for BTC have basically doubled their profits, so it’s advisable to take 70% of the position profits off the table first. The key is not to chase short positions or blindly add to positions. Wait until the bulls and bears’ battle becomes clearer before following up. Those who missed this wave of market movement should wait for tomorrow’s volatility to end before looking for a good entry point.

More importantly, recognize the bigger picture: this rebound is only a relief from the panic selling pressure since December. In the medium term (within half a month), the market still remains in a bearish pattern. The recent rebound in altcoins is an excellent opportunity to clear out positions. The rebound cycle lasts about 7 days, after which there will be significant declines. At that time, buying the dip at support levels is the right strategy. Don’t be fooled by short-term gains.