The three lines of the Bollinger Bands in the hourly chart are all parallel and moving upwards, but the rise is quite slow, indicating that the short-term market is making slight adjustments, but the overall direction is still strong.

The channel has widened a bit, and the distance between the upper and lower bands has increased, which means that the short-term market volatility will increase, and the contest between bulls and bears may become more intense.

The price is now slowly approaching the middle line, and it hasn't really broken below it. In the short term, this middle line may provide some support for the price.

Trading suggestion:

BTC: Buy on the pullback near 118200-118700, with a target of 120000-121000.