Long and short positions are not really an issue; the key is the final result. The upward trend this week has basically come to an end, and the next few days will enter a bottoming phase. However, it’s worth noting that this round of lows will be higher than the lows of last month, and it is expected to decline to around January 15 before starting to rebound.

Afterward, there will be a clear upward surge lasting about 5 days, followed by a period of consolidation. The entire period from February to mid-March will mainly feature this kind of oscillating market, until early April when a stronger upward trend may emerge.

Of course, this trend framework is fine, but reality is always full of uncertainties. Various positive and negative disturbances will inevitably occur along the way. Considering the current international situation’s uncertainty, the short-term trend could reverse at any time. From a larger cycle perspective, the next few months still lean towards bearishness.

On the technical side, Ethereum is basically confirmed to rebound to the 3000 level. If Bitcoin can hold steady at 89,000, the probability of an accelerated upward move will significantly increase.