Bitcoin Weekly Review: Long-term Positioning Incoming, Are You Ready to Jump On?

This week, it reached a high of around 94,800, then retraced to around 89,000. Currently, it is operating near 90,000, indicating limited rebound strength.

On the weekly chart, it is in the lower band of the Bollinger Bands, with volume continuing below the zero line. The lows are gradually decreasing, showing a bearish trend. Although there is a rebound, it only offers us an opportunity to enter short positions.

You can short around 90,800, add to your position at 91,800, with a stop-loss set at 92,500. The initial target is 85,000, with a break below that directly targeting 80,000.