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The latest market trends for Bitcoin and Ethereum show some interesting technical characteristics. For Bitcoin, the 113,500 point has become a key support level for short-term sentiment, as well as the lower limit of the current consolidation range. If it can stabilize at this position, it may help bulls to accumulate strength while dropping the risk of a pullback. The key support range for Ethereum is between 4,380 and 4,400, coinciding with the lower edge of the previous consolidation platform, which provides a more significant support effect.
In terms of resistance levels, Bitcoin faces pressure in the 115,500-116,000 range, which is a resistance band that has been tested multiple times before. Before breaking through this area, some fluctuations may occur. Ethereum needs to pay attention to the 4,520-4,550 range, which is not only close to the target level but also coincides with the upper band of the Bollinger Bands, forming a strong resistance.
From the perspective of volume-price relationship and technical indicators, within the 4-hour cycle, Bitcoin and Ethereum both show positive signals. The price is rising along the short-term moving average, while the trading volume is moderately increasing, indicating that the upward trend is supported by funds, avoiding the risk of a price rise without volume. This collaborative situation of volume and price increases the likelihood of trend continuation. In addition, the Bollinger Bands for both cryptocurrencies are gradually widening, and the price continues to operate near the upper band, showing characteristics of a strong market. This suggests that there may be limited room for a pullback in the short term, making it easier to see a market rhythm of "pullback is an opportunity."
Based on the current technical analysis, investors can consider placing long positions on Bitcoin in the range of 114,300-114,800, with a target price of 116,200. For Ethereum, opportunities can be sought around 4,400-4,430, with a target price of 4,550. However, investors must remember that the cryptocurrency market is highly volatile, and it is crucial to manage risks strictly and set reasonable stop-losses.