After the short-term price began to pull back on Monday, the bullish liquidity around 93,000 has slightly increased (as indicated by the white arrow in the figure);

But I still believe that the rapid shift in sentiment towards bearishness won't materialize so quickly, as there are still three obvious gaps in bullish liquidity below the current price (as indicated by the white rectangles in the figure);

Therefore, the current market seems to be waiting for this week's FOMC meeting, and the probability of the price continuing to oscillate within the range is quite high;

If the FOMC meeting at 2 AM on Thursday presents a hawkish or dovish attitude, then a breakout or breakdown from this range would seem very natural...

After all, whether upwards or downwards, the liquidity in the futures market is somewhat insufficient, and the bearish liquidity above is virtually non-existent, as most short positions may have already been closed before liquidation;

Meanwhile, the new bullish liquidity below is quite limited, not to mention there are three obvious gaps...

Therefore, allowing the price to oscillate for another two days to continue accumulating futures liquidity, then leaving the range, can ensure that whether it rises or falls, it possesses sustainability;

The current situation actually does not allow me to confidently take a bearish stance, as I always feel that this oscillation will last a bit longer than expected.