The recent trends of Bitcoin and Ethereum are indeed strong. Not only have they risen sharply, but their pullbacks are also lingering without going deep, typical of a surge followed by a pause, gathering strength to push further up. This morning, Bitcoin surged once again to around 116000, and now it is in a stage of catching its breath. Tonight, the focus is on the 115000 level; as long as it holds steady, the next move is likely towards 118000.
From the daily perspective, consecutive bullish closes are no surprise, as the bulls clearly have the rhythm under control. However, switching to the 4-hour chart, it can be seen that there has been some high-level consolidation recently, with small bearish and bullish candles alternating. A bit of consolidation may be needed in the short term. But fortunately, the overall pullback is not deep, and the trend is getting stronger with each fluctuation. As long as the key support holds, a solid rebound upwards is highly probable.
Trading suggestions:
Consider going long around the 115500-115000 area for Bitcoin, targeting the 117000 range;
For Ethereum, if it can hold steady around 4630, then go long, looking towards 4770.
