In terms of Bitcoin, the core observation point in the four-hour cycle is at the 93200 level. If the four-hour candlestick can close with its body above this price level during the early morning phase, it will signify the official end of the current correction, and the market will restart the bullish trend, with the first target pointing to the peak area created yesterday.

Be wary of potential selling pressure in the previous high area. If the price is blocked at this position, it may revisit the lower support in the short term. Conversely, if the four-hour close fails to stabilize effectively above the critical 93200 level, it will be regarded as a failure signal, and attention should be given to the strength of the daytime low support: if the price does not break the previous low on the pullback, there is still a probability of triggering a technical bounce; if the support level is effectively breached, a new downward channel structure may form.

Currently, the technical analysis shows that the trend reversal for Bitcoin at the four-hour level requires a firm hold above 93200 as a confirmation signal. Only with an effective breakthrough of this watershed can the upper target space of 94900/96200/97300 be opened up.

If the night trading four-hour line closes below 93200, it indicates that the current rebound momentum is insufficient, and there is a need to be cautious of the risk of the price dropping back to the 91800-90800-89700 support range.

In terms of Ethereum, the core pivot point in the four-hour cycle is at the 1775 area. Only with an effective breakthrough and stabilization at this price level can the end of the adjustment cycle be confirmed, with upper resistance to focus on the three key pressure points of 1805/1835/1865 in order.

If the night trading four-hour line fails to close above 1775, it indicates limited bullish momentum, and it may subsequently test the downward support range of 1720-1695-1665. Investors should closely monitor the bulls and bears' contest near the key levels and prepare for corresponding risk control measures.