The Bitcoin market continues to show strong upward momentum, reaching a high of 119800 points today, just a step away from the 120000 mark. Although it has not yet broken through this psychological barrier, the overall trend suggests a greater likelihood of continued volatility and upward movement.

Investors need to remain patient at this moment and closely monitor market trends. A 1-hour level correction may occur in the short term, which could provide new entry opportunities for investors. If the correction is successful, consider building positions again.

Ethereum has also performed well, successfully breaking through the 3900 USD mark. Currently, the upward trend on the 1-hour level still has potential for further advances, warranting further observation.

From the 1-hour level, it is still unclear whether the rise of Bitcoin starting from 114723 points has ended. If there is a short-term pullback that breaks below 117900 points, it may indicate that the 1-hour rise has come to a pause, followed by a potential retracement to around 116200 points. After that, a third wave of the 1-hour rise is expected to begin, continuing to challenge the historical high of 123218 points.

However, if the short-term pullback does not break below 117900 points, the current hourly level uptrend may continue to extend, with the potential to break through the 120,000 mark. Investors need to closely monitor the range between 120,000 and 121,300 points; once this resistance range is broken, the upward momentum may significantly strengthen.

On the 15-minute level, Bitcoin is currently in a correction phase. Around 117900 points is a key minor support level. If effective support can be obtained at this position, a new round of 15-minute level upward movement may occur subsequently.

Overall, the Bitcoin market is still in a pattern of fluctuating upward movement. Investors should remain vigilant and pay attention to breakthroughs or support at key price levels, seizing short-term trading opportunities in a timely manner. At the same time, it is important to control risks, as short-term market fluctuations can be quite significant.