Here's a wave of update on #BTC price action following the Federal Reserve meeting...

Overall, it still hasn't broken out of a large range...
From the overall order book situation, it can be seen that both demand and supply zones are quite thick right now...

Figure 1 + Figure 2:
The supply zone above is between 94k and 95k. Why can't it be pushed through several times? Because each time some is pushed back, new orders are added (spot + contracts). So this remains a continuous supply zone...

Similarly, between 90k and 87k is a continuous demand zone... That's why after a false breakout above the previous low of 89,500 yesterday, prices dropped back. Because going lower would mean entering a larger demand zone with more buy orders...

Figure 3: From the total delta perspective, the current bullish and bearish sentiments haven't yet broken through these two major demand and supply zones...

In Figure 3, you can see that each wave typically reaches a bull accumulation of 1.5b and a bear accumulation of -1.2~-1.3b before exhausting. This aligns with the oscillation trend where 1-1.5b in long/short positions marks the reversal zone of exhaustion...

Even macro news like the FOMC meeting hasn't been able to help bulls and bears break the range... Based on the current thickness of the order book, breaking the range would require a delta of over 2-2.5b in both directions...

In the future, trading can still be based on this range... As for which side it will break through, it's currently unpredictable...