This afternoon, the cryptocurrency market is showing a positive trend. Bitcoin (BTC) is currently fluctuating around $123,000, a level that is not only a recent high but also the focal point of contention between bulls and bears. Technically, the short-term trend leans optimistic, with the hourly MACD indicator maintaining a golden cross pattern. Although the upward momentum has not significantly strengthened, the bullish advantage remains.

The early market showed a high-level fluctuation pattern, with Bitcoin successfully breaking through 113,485 USD, establishing a strong position. Meanwhile, Ethereum (ETH) needs to stabilize above 4,300 USD to consolidate its upward trend.

For Bitcoin, investors can focus on the support level between 112,500 and 111,500 USD. If this level is effectively broken, the next target range may be between 113,600 and 114,800 USD. As for Ethereum, the range between 4,200 and 4,160 USD may provide a buying opportunity, and after breaking through, it may challenge the range of 4,340 to 4,400 USD.

It is worth noting that the cryptocurrency market is highly volatile, and investors should carefully assess risks and develop reasonable trading strategies. At the same time, closely monitor changes in market dynamics and regulatory environments, as these factors may have a significant impact on short-term price trends.