$BTC In the afternoon, the market's bullish sentiment continued to ferment, with prices once climbing to a high of 123300, but then faced resistance and saw a pullback. The current market is still in an adjustment phase, dipping as low as 121357. After some consolidation in the afternoon, Ethereum's bullish momentum was fully released, reaching a high of 3083. In the afternoon, we continued our bullish outlook and successfully seized market opportunities: we placed long positions at 122100 and took profits at 123100, capturing a space of 10000 points; at the same time, we built long positions at the 3000 point level in Ethereum and closed at 3065, achieving a space of 65 points.

From the current market trend, it can be seen that the market has maintained a steady bullish ascending channel, with candlesticks showing a stepwise upward trend. The MACD indicator has been continuously running above the zero line, indicating strong buying momentum. Since the start of this round of market, prices have continuously broken through several key resistance levels, without any significant technical pullbacks. Although this one-sided upward trend is exciting, from a technical analysis perspective, any healthy upward trend requires appropriate pullbacks to confirm support in order to accumulate sufficient energy for subsequent breakthroughs. Observing the 4-hour chart, it can be found that the RSI indicator has entered the overbought zone and shows signs of a bearish divergence, which is often a signal for short-term adjustments. At the same time, trading volume has shown a decreasing trend during the recent upward process, indicating a weakened willingness to chase prices higher. From the perspective of wave theory, we may currently be at the end of the fifth wave, and the demand for a pullback is becoming increasingly obvious. In terms of evening trading strategy, as long as the overall upward trend remains unchanged, the pullback may be limited. If the price experiences a rapid drop and then stabilizes and rebounds, it may be a better entry point for bulls. Therefore, we will maintain a bullish outlook on pullbacks in the evening, looking for pullbacks before breakthroughs; if there is a significant increase in volume, we will directly follow the trend and go long.

Bitcoin: Can go long around 120000, short-term target 124000

Ethereum: Can go long around 2980, short-term target 3150