Another week has passed, and the market still hasn't broken out of a unilateral continuation trend, still oscillating within the 65 to 75 range. This structure is typical of a corrective consolidation phase after a unilateral trend. The previous cycle also experienced two months of continuous fluctuation, and it has now lasted for two months as well. Such consolidation periods usually do not exceed three months, so it is not advisable to persist in the idea of a large-range oscillation afterward.

The probability of a unilateral trend increases gradually with the duration of the oscillation, and a new direction is about to be established, with a higher likelihood of an upward breakout.

From a structural perspective, falling from 1260 to 598, although the retracement has already exceeded half, compared to the previous three upward cycles, the current downward momentum is noticeably weaker. The ongoing oscillation shows no signs of a continued decline and has formed a preliminary bottoming pattern. The weekly Bollinger Bands' moving average is trending downward, with the middle band pressure not far away. Once a valid breakout occurs, the market will approach the second wave of consolidation, at least targeting around 90,000. This level is also where the monthly Bollinger Band middle line is located, with a major target of around 90,000.

On a smaller scale, the daily chart hovers near the upper Bollinger Band, with moving averages expanding outward, indicating potential for continued upward movement. Currently, it is in a phase of gathering strength for a breakout; the four-hour cycle's highs are gradually rising, and lows are moving up in sync, showing a clear bullish advantage.

Reference ranges:
Long-term target: 90,000
Mid-term target: 78,000
Short-term target: 75,100#btc$btc