The analysis suggests an incoming Bitcoin short squeeze, contingent on reclaiming the 113000 level. A broadening wedge pattern, typically bullish, supports this outlook. Potential targets include the mid-range and the range high of 122000. Initial jobless claims data are important today. The analysis also suggests that it makes sense to still have a bullish stance with caution due to the seasonality of September, potentially to see the next leg high. Ethereum is also addressed, highlighting its upside potential compared to Bitcoin. The analysis mentions the economic environment is good for risk assets like Ethereum. The long-term Ethereum target is set at 0.08831. The overall outlook favors altcoins, particularly Ethereum.