BTC is still operating within the 4-hour channel, but the three breakthroughs of 94500 have all been pulled back and ended. Currently, the price is above the middle line of the channel.

Tonight, due to the upcoming interest rate meeting, it’s best to focus on left-side trading.

Since there have been no breakthroughs on the upside after three attempts, 94500 can serve as resistance for re-entry. This wave of rise shows no signs of accumulation or turnover, so it’s mainly a shakeout and trap. The larger timeframe has not reversed, so the main strategy is to hold short positions for the long term.

On the downside, pay attention to the 4-hour channel trendline for entry. A retracement to the 90500-90000 range can be used for a short-term long attempt, with a target of 92000 and a stop-loss at 88200.