Analysis of BTC/ETH market situation on Friday, July 25th

The current market continues to show a pattern of oscillation and consolidation. Yesterday, BTC rose to 119200 before quickly retracing to the support level of 117000, and then rapidly rebounded back to the 119000 mark, showcasing strong buying support. In the short term, attention should be focused on the key resistance level at 121000. If it can effectively break through and stabilize, the upward channel may be further opened, and there is potential for new highs; if not, the market will continue to maintain a range-bound oscillation rhythm, with operations possible around the upper and lower bounds of the range.

From the four-hour timeframe, it has consistently operated above the mid-line, although there have been multiple downward spikes, all of which were quickly recovered. It is currently firmly positioned above the mid-line support. The momentum is continuously accumulating, and the trend shows a gradual upward probing. However, there is significant resistance in the upper area, so short-term operations will primarily focus on buying the dips.

BTC: 117500-118000, target looking at 119500-120000

ETH: 3580-3630, target looking at 3780-3880