Mengzhou Morning Analysis

The ups and downs of the market are never the end, just like life always has its twists and turns. Only by staying calm and refining judgment during volatile markets can one steadily capture the benefits when a trend arrives. Every time you stand firm amid fluctuations, it is a buildup of strength for breaking through.

In last night's market, Bitcoin dipped to a low of 117522 before oscillating back up, reaching a high of 120300 in the early morning; Ethereum, on the other hand, found support and rebounded around 3655, now hovering around 3740, with both assets showing signs of halting the decline and warming up.

The strong signals from the market are also very clear: the monthly, weekly, and daily lines are all firmly held above the upper Bollinger Band. After several breakthroughs of the upper band resistance, the highs continue to refresh. The upward trend of the monthly line remains unchanged, the weekly line has strongly surged with a large bullish candle, and the daily line is showing a wave-like upward movement, with Ethereum's catch-up rally also keeping pace.

In fact, in the face of trends, "setting new highs again" is often the norm. The market has now entered a phase dominated by bulls, and after the weekly and daily charts have opened up room for upward movement, refreshing high points within a single day or even a short period of time is highly likely. Overall, there is still considerable momentum for further increases.
Long directly around 192000-188000, target 122000.
Ethereum is targeting around 3690-3670 with multiple targets at 3820.