After the holiday season, the crypto assets market has entered a new trading cycle. Bitcoin is currently consolidating around 123,000, showing some resilience. Yesterday, Bitcoin touched the key support level of 120,000, but then rebounded, briefly reaching the short-term resistance level around 124,100 early in the morning. It is worth noting that the strength of the pullback is gradually weakening, which may indicate that long positions still have room to rise.

From a technical perspective, the small-level MACD green bars are shrinking, and there are signs of upward divergence in the DIF and DEA indicators, while the RSI indicator is also showing signs of turning. The Bollinger Bands on the 4-hour level are beginning to flatten, with the current price near the middle band. If Bitcoin can stabilize above the middle band of the Bollinger Bands, it may extend further upwards.

Regarding Ethereum, it is currently consolidating around 4500, in line with the previous expectation of gaining effective support at the 4400 level. The market sentiment indicator is in the greed range but has not yet reached extreme greed levels. In the short term, investors need to pay attention to the resistance level near 4560 in the 4-hour chart. If this position is broken, it may open up upward space, with the possibility of testing the resistance concentration area above 4700 again. Conversely, if it cannot break through, it may continue to be under pressure and pull back, entering a consolidation phase.

For investors without positions, it may be worth considering establishing long positions when Bitcoin pulls back to around 122400, with resistance levels to watch around 125000. For Ethereum, a light long position can be taken near 4460, but it is essential to closely monitor the support level at 4400. If it breaks above 4560 and stabilizes, one can continue to focus on higher levels such as 4620 and 4700.

It is important to note that the short-term market is highly volatile, and trading strategies need to be flexibly adjusted based on real-time market conditions. Investors should operate cautiously and implement risk management to ensure the safety of their funds.