Tonight, the Bitcoin market shows strong continuation characteristics, breaking through the previous high to around 123300. From the hourly BOLL perspective, the upper band is rising rapidly, and the channel continues to expand, indicating sufficient long positions momentum and strong market support. Currently, Bitcoin is still operating along the upper band, with further short-term upward space opening up.

However, overly expanded BOLL bands are usually accompanied by an increase in volatility. It is worth noting that the MACD indicator shows a tendency to form a death cross at high levels, with momentum continuing to weaken. Especially when Bitcoin reaches new highs, the MACD fails to reach a new high in sync, forming a potential divergence signal, which may indicate that the upward momentum is beginning to weaken, and there may be a pullback pressure in the short term due to profit-taking.

Based on the current market conditions, investors may consider placing long positions on Bitcoin in the range of 120000-121000, with an upward target to focus on the range of 123000-124500. For Ethereum, positions can be placed near the range of 3020-2980, with target levels looking towards the range of 4000-4050.

However, it is important to emphasize the inherent high-risk characteristics of the cryptocurrency market. Investors should act cautiously and manage risks well. At the same time, market conditions are constantly changing, and investment decisions need to consider multiple factors rather than relying solely on technical analysis.