With less than 24 hours remaining before the Federal Reserve's interest rate decision, market sentiment is heating up as participants await.

Yesterday, BTC's daily chart again displayed aback-and-forth pinbar pattern, with both bulls and bears fiercely contesting around a key range, causing swift switches between high and low points, which led to frequent liquidations on both sides. Especially during the early morning hours when liquidity was weak, a small amount of capital could amplify price fluctuations, exposing high-leverage contracts to significant risks.

Currently, the biggest characteristic of the market is not the trend, but ratherwaiting.

Funds are generally opting to reduce their positions and decrease directional bets before the FOMC interest rate decision is announced, leading to a continuous shrinkage in overall trading volume, with price action predominantly reflecting range-bound oscillations and repeated liquidity sweeps.

From a technical perspective, short-term momentum remains cautious:

• RSI three lines are currently clustered around the low of 45, lacking a clear market direction;

• RSI6 has broken below RSI12, forming a hidden death cross, indicating a weakening of short-term momentum;

• Perpetual contract funding rates are turning negative, with evident cooling in market bullish sentiment;

• Option skew is skewed downward, reflecting that more funds are beginning to position for downside risk hedging.

Overall, before significant news is released, the market tends to maintain a range-bound consolidation rather than prematurely developing a one-sided trend.

₿ Bitcoin (BTC)

View: Sell high, buy low, await news outcomes, do not blindly chase positions.

Currently, BTC remains in a typical consolidation phase, with overall trading volumes continuing to shrink, and the market has yet to form a clear direction.

From a cyclical structure standpoint:

• 1-hour and 2-hour charts have entered a corrective phase after previous increases;

• 4-hour, 6-hour, 8-hour, and 12-hour charts are gradually completing a bottom formation, technically beginning to meet conditions for further bullish opportunities;

• If the short cycle completes its adjustment, synchronizing upward with the medium cycle, one should still watch forbullish resonance that offers rebound opportunities.

However, it’s important to note that this round of market movements is influenced not only by technical factors but also dominated by macroeconomic news.

Currently, thedaily MACD is still operating below the zero line, with bearish momentum having strengthened compared to before, which means that even if a rebound occurs, attention must be paid to whether it can gain accompanying trading volume; otherwise, it may just be a technical correction within the oscillation.

What truly deserves caution is the1 to 2 hours before and after the FOMC interest rate decision announcement.

At that time, market liquidity and trading volume typically expand significantly, making directional choices easier within this time window. For short-term trading, rather than betting in advance, it is better to wait until the news is released before following the market's direction.

In the current phase, managing positions and waiting for confirmation remains a relatively robust trading strategy.

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This article is originally published by 【Huiying Community】 and represents personal views only. Due to a certain delay in information transmission, the content is for reference only and does not constitute any investment advice. Please make your own judgments and operate cautiously.
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