After an effective rebound in the range of 88,000–90,000, it surged to 94,000 and encountered pressure, followed by a pullback.
From on-chain data and the order book, it appears that large holders have placed about 120 million in short orders near 94,000, making this position a strong resistance in the short term.
$BTC : Still strong, but there is a need for a short-term pullback.
The key focus areas for bulls currently: 91,000 as the first support, 90,000 as the critical defense level.
As long as it does not effectively break below 90,000, the structure remains relatively stable and is considered a normal pullback within a strong trend.
$ETH : Sentiment is strong, the trend is solid.
Ethereum's performance is clearly stronger than Bitcoin:
Resistance levels: 3,400 – 3,600, support area: 3,250 – 3,200.
Overall, it remains a strong oscillation; as long as it holds above 3,200, further testing of upper resistance is not ruled out.
Important risk warning: FOMC at two o'clock in the morning.
Tonight's Federal Reserve FOMC meeting, key points:
The probability of interest rate cuts is relatively high (the market has partially strengthened in advance).
The most crucial factor is Powell's speech, which may determine the direction of subsequent volatility.
There is a high likelihood of another surge tonight, followed by a direct drop afterwards.
Short-term volatility will definitely increase; maintaining light positions or staying on the sidelines are both prudent choices.
