This week's cryptocurrency market continued the previous rhythm, and several key observation points are worth summarizing.

From a macro perspective, the upward momentum of Bitcoin on the weekly chart has not yet finished, but whether the top at around 97,900 can hold on the daily chart still needs to be observed. It is inclined to believe that the daily rebound still has room to continue, mainly for three reasons: first, the cycle resonance is still ongoing; second, the volume and energy are still adequate; third, the technical pattern has not been clearly broken.

Compared to the US stock market, next week the focus should be on the performance of the non-ferrous metals sector, which is likely to open low and then rise high, while the Shanghai Composite Index should watch the 4040 level. Against the backdrop of the Buffett Index reaching new highs, market risk appetite still exists. The short-term pressure on silver to pull back is due to four reasons, with the performance of US Treasury yields and the US dollar index being the main factors.

The implementation of the CARF policy is also affecting market expectations, which constrains our trading time window. Whether the Senate's spending bill next week will become a turning point for the market depends on the specific policy details.

From an operational perspective, I am currently in a no-position state. The plan for next week is as follows:

For Bitcoin, place a short position at 99,300, targeting 87,300. At the same time, build long positions in batches at 87,300 and 85,555, with take-profit back at 99,300. This setup aims to catch moves in both directions.

For Ethereum, short at 3,450, targeting 2,900, then build long positions in batches at 2,900 and 2,830, with take-profit at 3,450.

For SOL, short at 148.8, targeting 123.3, and buy in batches at 123.3 and 119.9, aiming for 148.8.

Ideally, if I can close these short positions next week, I can also prepare for a switch between mid-term long and short positions on the daily chart before the long-term short positions in February. If not, I will only do a mid-term long and wait for February.

Regarding the long-term short position layout in February, a reasonable entry range is between 103,000 and 105,000. To be safe, you can start with a small position around 99,000 to avoid missing out, then gradually increase the position from 103,000. If the altcoin season explodes in February, shorting those with a market cap ranking from 10 to 50, especially old meme coins, will be more cost-effective than shorting Bitcoin. This depends on whether the altcoin season index can reach 75+ in February.

The key timing for the shift in thinking is critical: the current weekly rebound is expected to last until mid to late February, but starting from February, the operational mindset should gradually shift from buying on dips to shorting on rallies.