Breaking above $85,000 will confirm that buyers are in control of the market and will absorb all long-term downward pressure. However, before that, technical charts indicate that the downward path remains relatively smooth, with $60,000 regarded as an important psychological support level. If Bitcoin fails to hold this level, the 200-week simple moving average (SMA) at around $58,000 will become a potential final support. Historically, multiple bear market lows have approached this moving average, making it a key bottoming area for long-term investors. It reminds traders that the $58,000 to $60,000 range could become the critical bottom of this correction and an important position to capture buying opportunities. Despite increased short-term volatility, from a long-term perspective, Bitcoin's price needs to rise significantly to rebuild a bullish pattern. Péquignot's analysis emphasizes the importance of technical factors and psychological price levels in Bitcoin trading, while also warning investors to pay attention to key support levels and potential downside risks.