Last night, Bitcoin experienced a clear stepwise decline. Starting from the high of 93,379 in the evening, the market gradually weakened, with the lowest point reaching 92,116 before stopping the decline, a daily drop of over 1,200 points. Ethereum followed closely, falling from 3,226 to a low of 3,165. Currently, both major cryptocurrencies are consolidating at low levels.

From the four-hour K-line chart, although Bitcoin experienced consecutive downward candles, the bearish momentum is gradually weakening. The lower band of the Bollinger Bands has formed a relatively obvious support, and the long lower shadows left during the decline indicate that the support level is very strong. The short-term downward space is constrained.

The one-hour signals are even more interesting. After stabilizing at a low, two small bullish candles were consecutively formed, and both RSI and KDJ indicators have turned upward, indicating that the bearish momentum has significantly weakened. This suggests that the bulls have started to exert force, and the bullish and bearish forces have begun a preliminary switch. The early morning trading strategy could consider gradually building long positions at low levels.

Ethereum's performance is synchronized, also completing the stabilization process at low levels.

Trading reference: For Bitcoin, consider building long positions around 92,200-92,000, with a target of 94,000; for Ethereum, consider building positions around 3,150, with a target of 3,280.