Mengzhou Midnight Analysis

Today, the daily K-line of the price comparison once again closed with an upward trend, showing a lot of highlights: not only did it firmly hold the key support level at the intraday low, but it also completely recovered the recent losses in one go. It is worth noting that after the rise, the market has not experienced a significant pullback and is still in a high-level fluctuation range, which completely aligns with our previous judgment of the "time correction phase" characteristics.

From the 4-hour level, the continuous bullish structure continues to extend. Although there have been slight pullbacks during this period, their magnitude is so small that they can almost be ignored. The current price has firmly settled above the middle track, showing a distinct rhythm of "consolidating and correcting while stepping upward."

What is particularly noteworthy is that during the recent pullbacks, the lower pin points have been continuously rising, with neither a significant drop in volume nor the occurrence of large bearish candles to push the price down. After each pullback, there has been a quick rebound. This series of performances indicates that the bearish retracement is quite limited and insufficient to reverse the current strong trend, serving more as a brief easing of the upward momentum, which falls under the category of healthy adjustment.

Overall, the bullish support remains strong, and the core logic of the upward trend after the consolidation has not changed.

In terms of operations, you can layout long positions based on the key support level at the lower edge of the recent fluctuation range, with stop-loss set outside the lower edge of the range; if there is a subsequent breakout above the upper edge of the high-level fluctuation range, you can follow the trend to add positions, with targets referencing the resistance level near previous highs. At the same time, be wary of the risk of a pullback after a rise; if it breaks below the key support accompanied by increased volume, you should promptly adjust your position strategy.
The big pie is focused around 118500-11800, targeting 120000.
Ethereum around the 3690-3650 area, targeting multiple goals at 3800.