Bitcoin's trading strategy and market analysis for the afternoon of the 23rd

After a quick rebound following a price drop to the $98,000 mark in the early morning, Bitcoin reached a high of $101,600 and is currently fluctuating around $102,000. The $102,000-$102,500 range has a dense position of trapped orders, and a short-term breakthrough needs to be confirmed with a pullback. A rebound to the $102,500-$102,800 range can be a setup for short positions, with support seen around $99,300-$98,500. It is recommended to continue focusing on short positions!

Altcoins have generally experienced a significant pullback, with only BTC and BNB showing strong resistance to decline. The current market has not yet confirmed a bottom, and all cryptocurrencies are still in an adjustment period, making counter-trend trading significantly more difficult. During the washout phase, price fluctuations are intensified, and small capital can attempt intraday short-term operations, but strict position control is necessary, and do not add funds to catch the bottom.

On a macro level, the Federal Reserve's maintenance of interest rates, uncertainty in tariff policies, and geopolitical conflicts continue to suppress the capital market, leading to strong risk-averse sentiment. Once the macro environment improves, the market is expected to regain an upward trend. At this stage, it is advised to remain on the sidelines and patiently wait for clear stabilization signals.