Thursday, good morning on a new day!

Overnight, the Bitcoin market showed little volatility, and even with support from the Federal Reserve meeting, the price did not experience significant fluctuations. Last night, we followed up with a short position above 97,000, and in the early morning, the price dipped to a low of 95,700 before stabilizing. The market remains in a tug-of-war between bulls and bears, and the overall situation is maintaining a range-bound oscillation.

From the current technical structure, while the overall trend is still upward, the short-term strength of both bulls and bears is not strong. The overnight retracement did not provide a decisive break lower. From a daily perspective, the rebound space and formation are not sufficient for a significant breakout. The middle track has certain support, while there is also clear resistance above. The volatility space is limited, and unless there is significant news stimulus in the short term, the market will likely enter a range-bound oscillation. Given that the price has returned to the upper range, in the early morning, the short-term strategy could be to attempt a short position and observe the retracement. If it touches support, one can close the short and switch to a long position. Without breaking previous highs, treat it as a range-bound approach of buying low and selling high!

On Thursday morning, Bitcoin is currently quoted around 97,300. Aggressive traders may short at the current price, placing a stop-loss above the previous high at around 98,000, while watching the 95,000 level below for a stop. Ethereum, on the other hand, continues to oscillate in a small range, with resistance concentrated in the 1,850-1,880 area and support in the 1,730-1,750 area. In terms of operations, refer to this range for high selling and low buying. If it breaks, then follow up!