Market Observation

Bitcoin has recently demonstrated strong performance, successfully breaking above the 97,000 level, supported by continuous inflows of funds over the past 24 hours. From a volume perspective, the steady release of trading volume has laid a solid foundation for this upward trend, indicating that this is not just a short-term rebound. The signs of large capital allocation are already quite evident, and even a slight short-term pullback cannot change the current bullish pattern.

Technical Analysis

On the 4-hour chart, the price has broken through the middle band of the Bollinger Bands and is steadily approaching the upper band. More importantly, after touching the lower band previously, a strong rebound has formed, and the support level appears quite solid. The entire trend has established a standard bullish channel, with the middle band serving as the main support that continues to play a role.

Although the KDJ indicator is in the overbought zone, there are no obvious signs of a reversal. In this context of volume, the bullish momentum is still actively being released. Overbought conditions in a strong market are often normal and do not necessarily indicate a reversal.

Trading Recommendations

Bitcoin: Consider long positions in the 95,500-96,000 range, with targets around 97,500-98,000.

Ethereum: Consider long positions near 3,270-3,300, with upper targets around 3,420-3,450.