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The cryptocurrency market has recently shown a strong bullish trend, and investors should closely monitor some key price levels.
Bitcoin (BTC) has shown slight weakness in the short term, but the overall trend remains upward. It once reached a high of $119,450, followed by a slight pullback. Currently, we need to pay attention to several important support levels: $117,588 is an aggressive support point, while the gaps at the Chicago Mercantile Exchange (CME) create two lower support levels at $115,388 and $114,088. As for resistance levels, under the current bullish trend, resistance levels such as $121,000 may be broken.
Ethereum (ETH) has been more active, with its rapid upward momentum being noteworthy. For Ethereum, we should pay attention to the following support levels: $3,668 is an aggressive support point, $3,538 is a relatively solid support level, while $3,118 is a support level in extreme cases, but the likelihood of reaching this level is very low.
In this market environment, investors may consider buying on dips during pullbacks, but they must also remain vigilant and closely monitor market trends. The volatility of the cryptocurrency market is significant, and prices can change dramatically in a short period. Therefore, when making investment decisions, it is essential to act cautiously and manage risks effectively.
Overall, although there may be some fluctuations in the short term, the overall trend of Bitcoin and Ethereum remains positive. Investors should be patient, pay attention to changes in key price levels, and adjust their strategies in a timely manner based on market conditions.