The price of Bitcoin fluctuated relatively limited in the early morning. The Federal Reserve's interest rate meeting kept the benchmark interest rate unchanged, in line with market expectations, thus the impact of this decision on the market was relatively mild. The short strategy mentioned last night successfully reached the preset profit target.

On the daily chart, the K-line structure continues to reflect a range-bound characteristic, with prices consistently operating below the middle band of the Bollinger Bands. The current closing pattern of a doji candlestick suggests that the forces of bulls and bears are temporarily in a state of balance.

From the four-hour chart, after a brief upward attack in the early morning yesterday, the price entered a corrective adjustment pattern in the afternoon, with significant volatility during this period. In terms of indicators, the KDJ has returned above the oversold area after a rebound, indicating that short-term bullish momentum is accumulating; however, the MACD indicator still maintains a downward divergence, and the signs of a contraction in bearish volume are not yet obvious. In summary, the market may have slight room for a rebound in the short term.

In the morning, Bitcoin retested near 104000-104500, targeting 105800.

Ethereum can sync.