The market is like climbing a mountain, and the current pullback is similar to a gentle section during the ascent. Although it appears that the height has decreased, this is actually a necessary stage for the marketplace to gather strength for the next rally. Currently, the price has retraced to near the middle band of the Bollinger Bands, which does not mean that the previous rise has failed, but rather that the market is preparing for the upcoming climb. Investors do not need to worry excessively about the current pullback; stay patient and wait for the marketplace to regain balance. The subsequent upward path may become clearer.

Analyzing the Bitcoin 4-hour chart, after reaching a high of $113,900, the price experienced a significant pullback, breaking through the middle band of the Bollinger Bands, but has now returned near the middle band. During the previous rise, volume increased notably; during the pullback, volume decreased but did not completely dry up, indicating that there is still some level of market debate. The middle band of the Bollinger Bands is a key position for judging the medium-term trend. If this level can be maintained, the previous upward trend is likely to continue, and the subsequent recovery may be supported by this level. However, if support below continues to be broken, the price may seek further support at the lower band of the Bollinger Bands.

Based on the current market situation, investors may consider looking for Bitcoin buying opportunities around $107,800, with a target price set near $112,000. For Ether, around $3,820 could be a potential entry point, with a target price considered near $4,150.

This round of market adjustment has also to some extent cleared excessive leverage, laying a foundation for healthy future development. Investors should carefully assess risks and set reasonable stop-loss levels to cope with potential market volatility.