Saturday Morning Analysis

From the daily chart perspective, after a recent continuous rise, the market has turned to a bearish candlestick, which is the first bearish candle after consecutive bullish ones, breaking the previous bullish structure. However, the overall trend is still bullish, just that there may be some consolidation and pullbacks in the short term. The current pullback is still stable above 116000, and the recent low can be taken as a defensive point. Overall, the strategy remains to go long, and further increases are expected.
From the 4-hour chart, 116500 serves as a support level, forming an ascending channel, and in the short term, it is in a state of fluctuating upward. The pattern still looks bullish. If today's lower low holds as support, the breakout point can also turn into support, and it is expected to continue to rise. Although the upper space is not very large, after multiple tests, breaking a new high is just a matter of time.
Trading advice: Go long between 116800 and 116300, targeting 118500; for Ethereum, go long in the range of 4380 to 4360, targeting 4500.