Brothers, today let's talk about the latest developments in Bitcoin:

The current price is $118,000, up more than 1% in the last 24 hours, with a total market cap of $2.35 trillion, accounting for nearly 60% of the crypto market. The good news is it has stabilized at the key level of $116,000, and it seems to have the momentum to push towards $120,000.

However, both bulls and bears are fighting fiercely, with over 100,000 liquidations in a single day, losing nearly $400 million; the volatility is indeed significant. Right now, $119,000 is a hurdle; it has failed to break through several times, and if it does, the next target is $120,000. As for support, $116,500 is relatively stable, with $115,200 and $114,000 further down that need to be monitored closely to avoid a breakdown.

From a technical perspective, there is no clear direction in the short term. The MACD bearish momentum has weakened a bit but has not signaled a rise yet, and the KDJ is also fluctuating in the middle. The Bollinger Band's middle line is oscillating near the mid-range, and for it to push up to $119,000, we need to look at the volume, which may not be enough. Market sentiment is a bit greedy, with a fear and greed index of 62, but liquidity is average, and volatility might increase.

Lastly, let’s talk about Brother Chen’s trading guide. You can try going long around $117,500 to $118,000, initially targeting $119,000. After breaking through, we can look at $119,600; it’s possible we could break $120,000 in the next couple of days. But honestly, this market can change quickly, so be cautious when trading #btc .