From the current market perspective, BTC has formed a small bearish doji with a long upper shadow on the daily chart. This pattern indicates that selling pressure remains heavy above, and bullish momentum shows signs of exhaustion. The 4-hour chart exhibits clear characteristics of sideways oscillation, as the price has tested the upper Bollinger Band resistance multiple times without achieving an effective breakthrough. It currently remains below the upper band, indicating strong resistance at this level. Technical indicators suggest that the market is still in the tightening correction phase of the Bollinger Bands.
Two key factors need to be closely monitored: first, the upcoming announcement of the Federal Reserve's monetary policy direction, which may trigger market volatility; second, the breakthrough situation of the significant psychological barrier at $98,000. If the price can stabilize above this level with sufficient volume, it may open up new upward space.
Subsequently, a short position can be attempted for BTC in the range of $97,000-$97,500, targeting around $95,500.
A short position for ETH can be attempted in the range of $1,830-$1,860, targeting around $1,750/$1,720.
