Last night after the US stock market opened, BTC rushed to 74000, ETH rushed to 2200. Many people thought they were about to break through resistance, but then it turned around and crashed. Those who chased the high probably got trapped at the peak. This is typical whale distribution. The 74000 and 2200 levels are too strong, like iron plates. Can't break through, so it had to retreat.

What's the situation now?

BTC price is hovering around 70500, ETH is oscillating near 2090. Coupled with the weekend action, today BTC will likely oscillate between 69500-72500, ETH between 2150-2050.

The market is now waiting for direction. Why? Because the Federal Reserve has a meeting on the 19th, and big money is holding tight and not daring to move. Plus, things are heating up in the Middle East, so money is flowing into gold and crude oil. The crypto market over here looks a bit cold.

Today's Trading Strategy

Bullish traders: Wait for it to drop to around 70000 and stabilize, try a small position, place stop loss at 69000, target 71500-72300 upside. Don't move if it doesn't reach the level. Patience is the key to profits.

Bearish traders: Try shorting on bounces near 73000, place stop loss at 74100, target 71000 downside.

Remember to control your position size!

Don't get caught up in the wild swings from last night. Check the daily and weekly charts—we haven't broken out of the consolidation zone yet. BTC is in the 68000-74000 range, ETH in the 1800-2200 range. Sell high, buy low, take profits when you have them, don't get greedy. Wait for the Fed announcement on the 19th. Based on current market movement though, the Fed maintaining interest rates is highly likely, so the overall direction will remain range-bound with downward bias, since we haven't found the bottom yet.