During the price increase on Friday, there was no liquidation of short liquidity above 98000, which is indeed a point worth noting. If this indicates insufficient short liquidity above 98000, then the price is likely to gradually start moving towards the long liquidation zone;

Currently, the optimistic aspect is that the accumulated long liquidity below 95800 is not much, with the majority below 93000;

So subjectively, as long as the price does not fall below 92800 to trigger a long liquidation, the probability of maintaining a range is very high;

In the futures market, the purpose of the range is not to balance supply and demand like in the spot market, but simply to accumulate long and short liquidity until the liquidation intensity of either side reaches a threshold, after which it may act as a catalyst in response to some news or spot market fluctuations, ultimately leading to a breakout;

The current situation is that the range time is still not enough, and the accumulation of liquidity is not sufficient, so I personally believe that this kind of range may continue until new long and short liquidity accumulates close to the level of 96500...

In the short term, it seems that there is no trading value...

Prices always move in the direction of least resistance.

Whether it is long or short, the amount currently bet is still not enough to attract market makers or large funds to conduct directed liquidation operations, and thus there will be no significant fluctuations.