Bitcoin is very likely to test the key level of 89,000 again next. If effective institutional capital support is not obtained here, or if genuine support is not found, the risk of further decline is significant.

From a broader perspective, the 80,000 to 82,000 range has never completed a proper secondary confirmation. The bulls have not yet experienced a true panic sell-off. Recently, the Fear & Greed Index has returned to a relatively neutral position, which gives the bears more reason to continue applying pressure.

So, what is the more reasonable approach now? I have already taken profit and exited my long positions. The current strategy is to stay in cash and lightly set up some short positions to test the waters. As for Ethereum, if it can stabilize within the 3150 to 3250 range, I will continue to observe. But if it just pushes upward within this range without breaking through, I will consider shorting on a pullback.

The bullish signals coming from the market are just too strong. The manipulator’s tactics are very obvious—drop it a bit and then pull back, pull back and then drop again, repeatedly testing our bottom line. On-chain data also reflects that the bulls are actively gathering, which means next week a support level is likely to be broken, and it will be time to harvest the longs’ margins. Everyone must stay alive and get through this market phase.

The current strategy is to short on rallies. Next week, decide whether to take profits and exit based on the actual trend.