Recently, the cryptocurrency market has shown a strong upward trend. The price of Bitcoin broke through a new high of 119,400 in the early hours of today, demonstrating significant market vitality.

From a technical analysis perspective, the hourly Bollinger Bands show a clear expansion, reflecting that market volatility is increasing, which typically indicates that trend momentum is in an accelerated release phase. The price continues to run close to the upper band, indicating that buyer strength is in absolute dominance, with strong upward inertia in the short term. The upper band line not only fails to impose effective resistance on the price but instead becomes a support line for the buyers' advance.

The MACD momentum indicator shows a parallel upward trend for its two lines, with no signs of flattening or turning. This indicates that the current upward momentum not only persists but also has a stable release rhythm, with no signs of overextension yet. The positive coordination between volume and price provides strong support for the continuation of the trend.

Based on the current market analysis, investors can pay attention to Bitcoin's performance in the range of 118,200-117,500, with an upward target possibly reaching the range of 119,400-120,000. At the same time, Ethereum is also showing a similar trend, with attention to the performance in the range of 2,950-2,900, and an upward target potentially reaching the range of 3,030-3,080.

However, investors should keep in mind that the cryptocurrency market is highly volatile, and price trends can change rapidly. Before making any investment decisions, it is essential to conduct thorough research and risk assessment.