The recent pullback of Bitcoin seems to be nearing its end, and the market is preparing for a new round of rise. Yesterday, after Bitcoin touched a low of 114,723, it showed signs of stability and positive buying signals appeared in the evening. Today, the price has broken through the 118,000 mark, indicating that the short-term adjustment may have concluded.

The upcoming trend may present two scenarios: either a rapid breakthrough of the 123,000 mark or a pullback after a period of consolidation over the next two to three days, followed by another pump. In any case, creating a new historical high seems to be the trend of the times. From the daily chart perspective, the current rise has not yet fully ended, and 123,218 is clearly not the top. However, investors need to be cautious of a potentially sharp pullback that may occur after the peak.

From a shorter time frame perspective, the 1-hour chart has shown signs of a new round of rebound, with the key being whether it can break through the 120,000 barrier. The 15-minute chart also presents a rebound trend, which may accelerate the breakthrough of 120,000, but a short-term pullback before the breakthrough cannot be ruled out.

Ethereum has also strengthened, currently in a rebound phase. $3,860 is an important breakout point, and if it successfully breaks through, it is expected to further challenge the range of $3,900 to $4,000.

Currently, the trends across various time frames remain positive: the weekly, daily, and 4-hour charts all show an upward trend, with the daily target range between 120,000 and 130,000. The 1-hour and 15-minute charts also exhibit a rising momentum. For investors, this is a time to seize the opportunity for a rise, but it is also important to be alert to the pullback risks that may occur after the peak.

Overall, the cryptocurrency market is showing strong pump momentum, but investors still need to remain cautious, closely monitor market changes, and manage risks effectively.