This rebound is coming in strong. BTC is up nearly 9%, and ETH is surging directly by 11%.

From a technical perspective, the small-scale fifth wave is underway, but the key resistance levels haven’t been reached yet—Bitcoin’s hurdle at 94,000, and Ethereum’s range between 3,090 and 3,110. For those who went short this morning, make sure to set your stop-loss; don’t try to tough it out.

The liquidation map above is almost cleared out. Within a single day, we saw a sharp drop of nearly 10,000 points, followed by a rapid spike of almost another 10,000. This kind of volatility is hard to figure out. Is it a bull trap? Or is it really a reversal? Could there be a sudden second dip? The 94,000 level is also right at the trendline, so whether it can be effectively breached still needs to be watched.

With the market this crazy, you have to stay defensive. Don’t end up being the one who gets liquidated.