Based on our assessment that Powell will deliver cautious hawkish remarks, we adopt a "sell high, buy low" range trading approach. The market situation is nuanced: on one hand, Bitcoin briefly broke through $75,000, but this was primarily driven by short covering with a lack of aggressive new long positions, making the upside foundation weak; on the other hand, implied volatility surged to 62% before the meeting as both bulls and bears bet on significant volatility, but volatility may drop sharply post-meeting.

1. Pre-Meeting (before 2 AM Beijing time on the 19th): Watch more, move less, or set light-position range traps. Current price is oscillating around $74,000 with both sides awaiting direction. If you really want to participate, consider range grid trading or straddle options (long volatility), but avoid heavy directional bets.
Short (betting hawkish): Consider light-position shorting around $74,800-$75,200, with stops above $76,000, targeting $73,500 or lower.
Long (betting dovish): Consider light-position longing around $73,500-$73,800, with stops below $73,000, targeting $75,000.

2. Post-Meeting (during Powell's remarks): Follow the trend after direction is confirmed. Powell's comments will directly determine direction, with extreme volatility expected. Try to wait for the first wave of sharp moves to complete before entering.
Scenario A: Hawkish signal (higher probability) — If Powell hints at delayed rate cuts or the dot plot shows only 1 or 0 cuts for the year. Short with the trend. Focus on whether price breaks the key support of $72,800. If broken, add shorts; first target $71,000, second target $68,000. Set stop loss $1,500-$2,000 above entry price.

Scenario B: Dovish signal (lower probability) — If Powell unexpectedly mentions "inflation under control" or "notes downside employment risks." Long with the trend. Watch if price holds above $75,800. If it holds, add longs; first target $78,000-$80,000. Set stop loss $1,500 below entry price.

Scenario C: Ambiguous/Neutral (possible) — Nothing is clearly confirmed. Price likely continues oscillating in the $73,000-$75,500 range. Best to stay on sidelines, or practice sell high-buy low within this range, but strictly set profit targets and stop losses.

At the moment the Fed releases its decision, "whipsaws" with violent swings frequently occur. Your stop loss orders could be instantly penetrated by liquidity spikes, resulting in actual fills far worse than expected. It's advised not to use excessive leverage and reserve sufficient margin as a safety buffer.

Overall, the safest strategy right now is actually to wait—wait for Powell's remarks to finish, wait for market direction to become clear, then consider following the trend into positions. Futures trading isn't afraid of missing opportunities; it's afraid of trading in the wrong direction.