From a technical analysis perspective, Bitcoin has failed to break through the 20-day moving average (EMA) resistance and continues to trade below it, indicating a lack of sufficient buying momentum in the market.

Market sentiment and trading volume impact: Although the long-short ratio has slightly improved, the open interest (OI) has decreased by 2.30%, falling to $58.84 billion, showing a decline in overall market activity.

Macroeconomic factors impact: The strengthening of the US dollar and global economic uncertainty have put some pressure on Bitcoin's price.

Short-term trend may continue to decline: Currently, the KDJ and MACD indicators at the daily level for Bitcoin have shown signs of frustration, and the trading volume has entered a phase of parallel decline.

Moreover, Bitcoin has failed to form an effective breakout near $97,000 and has seen multiple pullbacks recently, indicating strong resistance above.

The short-term support level is around $97,100; if it breaks down, it may further decline to $95,000 or even lower.

The key resistance levels are around $98,800 and $100,500.

The area around $97,500 is indeed an important technical resistance zone, where Bitcoin has previously experienced multiple pullbacks.

Currently, the overall market sentiment is relatively cautious, with both bulls and bears fiercely contesting around $97,000.

In terms of trading strategy, it is advisable to focus on short positions for Bitcoin, entering short around $97,000 to $98,000, with a stop loss at the $98,800 resistance level.

Ethereum can also go short around $2,650 to $2,700, with a stop loss at the $2,760 resistance level.