Bitcoin touched 97,900 in the early morning, but momentum gradually waned. It then oscillated around 97,000 with increasing selling pressure above. Currently, 98,000 has become a clear short-term resistance level, with multiple failed tests. If there is no volume breakout above this level soon, the risk of a decline will gradually emerge. It might be safer to wait for a pullback to key support levels before considering an entry.

From the trading volume perspective, the consolidation phase shows continuous shrinking, indicating limited buying momentum. Once the price gets stuck near 98,000 again and shows signs of volume stagnation or minor cycle weakening, there is a high probability of testing the 96,000 support level downward. If the 96,000 line cannot hold, the next focus area will be the 95,500-94,500 range, where a long position could be considered. Our previous long positions have been reduced, and many trades have already locked in good profits.

Overall, the market is at a critical juncture of direction choice, with a high risk of a pullback from high levels based on technical structure. Key points to watch are whether the 98,000 resistance can be effectively broken and the buying strength at support levels below.

Reference operations: Consider long positions in BTC within the 94,800-95,500 range, targeting 97,500-99,000; for ETH, enter around 3,250-3,280, with targets at 3,450-3,500.