Thursday morning Bitcoin and Ethereum market analysis and trading suggestions

The overnight market conditions met expectations, with Bitcoin breaking through 123680 and Ether reaching a high of 4783. The analysis from last night was validated, and the market has moved upward as anticipated. Bitcoin surged strongly, briefly breaking through and touching the 123680 level. Ether followed the trend, rising synchronously to the 4783 level.

The strategy of pulling back in the early morning was effective, and the long positions were cashed out. Based on the pullback signal during the early morning period, a long position was entered when Bitcoin pulled back to around 121400, and a prompt to exit was given when the price rose to 123000 in the morning, resulting in a profit of about 1600 points from this operation. In terms of Ethereum, a pullback opportunity was also captured near 4683, and a prompt to exit was given when the price rebounded to around 4780, resulting in a profit of nearly 100 points.

From a technical perspective: On the weekly level, a large bullish candle has closed high, confirming a strong market pattern. Bitcoin continues to show increasing volume at high levels, maintaining a streak of consecutive bullish days. The upper band of the Bollinger Bands has been effectively broken and is opening upwards, indicating that upward space continues to expand, with new highs being set. The short-term pullback is limited, presenting a "quick step and quick collection" characteristic. On the daily level, Bitcoin is steadily rising, and it is expected to continue its upward momentum at the beginning of this week. In terms of pattern, after a period of increasing volume and price rise, it has entered a slow upward squeeze pattern. Subsequent attention should focus on the last effective pullback low around 118000, which has become an important short-term support level and is also the key support area at the beginning of this week. On the four-hour level, Bitcoin has stabilized after a rise from around 118000 and is attacking again, having recovered most of its losses in the short term. The pattern indicates that after horizontal consolidation, Bitcoin is likely to continue its upward trend at the beginning of this week.

Operating Idea: The current market is in the upward phase after an increase in volume, and the rhythm may change quickly with significant fluctuations. In the morning, it is recommended to primarily focus on placing long positions after a pullback to key support levels and stabilization.

Operating Suggestions:
Bitcoin 122000-122500 range is observed, looking at 124500.
Ether 4690-4710 range fluctuation, look at 4800
Bitcoin defends below 122000, Ethereum defends below 4680
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