In the early hours of August 7th, the Bitcoin (BTC) market showed a strong upward momentum. The recent hourly Candlestick Chart clearly demonstrated an ascending channel, and although the latest hourly trend has slightly slowed down, the overall trend remains strong.

In terms of technical indicators, the MACD indicator continues to show buying strength, with the red bars increasing continuously, while the MACD dual lines are also in a divergent state, further confirming the current bullish atmosphere in the market.

The moving average system also conveys positive signals. The short-term moving average EMA7 has broken through and is clearly above EMA30, while EMA120 has also formed a golden cross pattern. The overall trend of the short-term moving averages is showing upward divergence, providing strong support for continued rise.

Based on the current technical analysis, market participants may consider looking for entry opportunities in the range of 114500 to 115000, with target price levels set in the range of 116000 to 116500. However, investors must keep in mind that the cryptocurrency market is highly volatile, and any investment decisions should be based on individual risk tolerance and comprehensive market research.