Bitcoin has experienced a significant correction on the daily chart, but from a long-term perspective, there's no need to be overly bearish. During such times, the worst thing to do is chase after short positions, which is basically like giving away money.

There are two critical levels to watch—$92,400 and $94,700—these are areas where it’s easy to get trapped. Looking downward, if the $89,000 level cannot hold, then caution is advised.

On the technical side, there are quite a few positive signals. After the price retraced to $89,500, it quickly pulled back the MA5 and MA10, and the short-term moving average system started to turn upward, indicating that the bottoming trend is taking shape.

MACD has shown signs of bullish divergence below the zero line, which means the bearish momentum is weakening. The green histogram is gradually shrinking, and a golden cross is about to appear. RSI has rebounded from a low of 38 and is now around 42, confirming the oversold rebound signal, and buyers are entering the market in an orderly fashion.

Volume is also cooperating well. During the bottoming phase, it remains moderate, and after stabilization, it slightly increases, indicating that selling pressure in the market has significantly diminished.

From a practical trading perspective, Bitcoin can consider entering long positions in the range of $90,200 to $90,700, with targets at $92,200 to $92,700. For Ethereum, the entry points of $3,050 to $3,080 are good, with targets around $3,200 to $3,230.