In the early hours of the weekend, long positions continued to rise with higher trade volumes. After switching lines during the day, BTC still has not tested the 120,000 mark for a second time, peaking around 119,800 before retreating under pressure. Currently, the price is just consolidating around 118,900. Meanwhile, Ethereum still maintains a strong trend. I previously mentioned that if ETH does not break above the 4,000 mark, one can only engage in short-term operations. Given the recent fluctuation of ETH, the market is only a step away from the 4,000 mark. The strong trend of long positions remains unchanged, so one can continue to adopt a bullish outlook.

From the current market perspective, the previous daily candlestick formed a long lower shadow, indicating a liquidation of high leverage at the bottom. Currently, after rebounding back to the previous upper range of the consolidation zone, it faces resistance again. Overall, the market continues to operate within the consolidation range, and there is a clear pattern of resistance in the upward movement. The Bollinger Bands show a structure of three lines converging, indicating that in the short term, we should continue to observe the high-level consolidation of the daily chart. In the four-hour chart, it has recovered to near the upper band but faced pressure and fell back, currently forming a three consecutive bearish candlestick pullback pattern. The KDJ indicator also shows a dead cross in a bearish volume expansion pattern, and in terms of volume strength, it is still not sufficient. After the pullback ends, there will still be a second volume expansion to test the pressure of the upper band. In terms of Ethereum, there is a need for a pullback correction in the short term, but currently, with the strong bullish sentiment, we continue to maintain a bullish outlook.
BTC can be bought in the range of 117800-118300, looking towards around 120000. ETH can be bought in the range of 3830-3850, looking towards the 4000 mark. #BTC