This morning, Bitcoin has been bouncing back and forth between 94125 and 93467, exhibiting a typical narrow-range oscillation. By noon, signs of a slight pullback appeared, and in the afternoon, it even dipped to a low of 93088. During the same period, Ethereum was also active, rebounding from 3201 to 3246 in the morning before entering a range-bound consolidation. It briefly rebounded to 3254 at noon, then quickly plunged near 3210.

From the four-hour chart, it currently shows a continuous three-candle decline pattern. However, a closer look reveals that the downward momentum is actually beginning to weaken. Compared to previous gains, this correction is noticeably weaker, and the overall trajectory has not deviated from the medium- to long-term upward channel. In simple terms, a single round of ups and downs is unlikely to change the market's main direction; this short-term correction is essentially a buildup for the next upward move.

Switching to the one-hour timeframe, the price has formed a stair-step decline, falling from the upper band of the Bollinger Bands to near the lower band. Although the bears have exerted some force, there is a key signal—Bollinger Bands are not expanding downward; instead, the three bands are contracting synchronously. This indicates that the downward space is being compressed tightly. Based on these signals, even if there is a secondary dip later, it will only be a phase adjustment, and continuing to trade on retracements is advisable.

Trading suggestions: Bitcoin can consider going long in the 93000-92500 range, targeting around 95000; Ethereum can go long between 3220-3000, with a target near 3350.