Bitcoin has retreated from its high, completing a deep correction, with a low near 59,080. Currently, it is oscillating and recovering in the 65,500 range. The daily Bollinger Bands show that the price has gradually risen from near the lower band, with the downward momentum fully released on a larger timeframe, and signs of a bottoming consolidation forming in the medium to long term. Combining cycle analysis and historical patterns, the key target for this correction is around 82,800, which is a resonance point of previous high-volume trading zones and trend resistance lines, and also an important observation point for medium to long-term recovery.

However, in the short term, the current price is near the upper Bollinger Band, the KDJ indicator has fallen from high levels, and the rebound momentum is weakening, with selling pressure at high levels beginning to show. The short-term technical retracement demand is increasing, with priority given to supporting around the middle Bollinger Band at 66,461. If broken, the next support is at the low of 63,650. As long as the retracement does not break key levels, the pace of medium to long-term recovery will not be disrupted.

Ethereum's trend is synchronized with Bitcoin. This round has completed a phase of bottoming following market adjustments, with a low near 1,653. Currently, it is oscillating and recovering in the 1,717 range. The long-term support logic from the ecosystem and capital perspective remains unchanged, with a medium to long-term target around 2,140, which is both the upper boundary of the previous consolidation platform and a key observation point for this recovery phase.

In the short-term rhythm, Ethereum also shows signs of stagnation at high levels, with bullish momentum nearing exhaustion, and a technical correction is possible. Focus on support around 1,700-1,690; if broken, the next support is at the low of 1,670-1,653. As long as key support levels are not broken, the slightly bullish medium to long-term pattern remains intact.

Overall, the market is in a technical correction phase after a sharp decline, with short-term oscillations and fluctuations being normal. From a medium to long-term perspective, as long as key supports hold, the recovery trend can continue; in the short term, it is best to observe and wait for retracements, patiently following the cycle rhythm.