This Saturday, the performance of the Bitcoin market is attracting attention. After a brief fluctuation in the early hours, the price of Bitcoin has shown a strong rise.

The double bottom pattern formed near 114800 provides strong support for the bulls. Subsequently, buying pressure significantly increased, driving the price to break through the 117000 level, eventually rising to around 117500.

From a technical analysis perspective, a compelling bullish signal has appeared on the 4-hour chart. The emergence of the morning star pattern, along with a simultaneous increase in trading volume, indicates that buyers are gradually taking control of the market direction.

It is worth noting that the current price has firmly stood above the key support level of 117000. At the same time, the MACD indicator has formed a golden cross, and the RSI indicator continues to rise, all of which support the accumulation of bullish strength.

If Bitcoin can effectively break through the previous high of 118300, the next important target may be the 121800 area. Therefore, adopting a low-buy strategy in the short term may be more prudent.

For Ethereum, the market is also showing similar positive signals. Investors are advised to closely monitor buying opportunities in the 3700-3720 range, with a rise target set around 3765.

Overall, the current cryptocurrency market is at a potential turning point. Investors should remain vigilant while also seizing possible opportunities. However, whether going long or short, it is essential to set stop-loss orders cautiously to manage risk.