A Brief Overview of Bitcoin This Afternoon

In the new week, market sentiment has significantly improved, with Bitcoin breaking above 122,000. The bullish momentum was too strong, leaving the bears in a state of confusion. This morning, I specifically emphasized the resistance at 120,000, and a breakout would follow the trend.

Currently, it appears that after the price broke the high point, there hasn't been much room for a pullback. The bullish trend remains intact, so under strong conditions, we can follow the trend. This afternoon, we will first observe the pullback situation, and after confirmation, we will consider going long.

The first support level to watch is 121,000. If it holds, we can go long directly, aiming for the previous high around 123,000. If it breaks, we will continue to look towards 114,000.

The second support level to watch is 120,000. If it holds, we can go long directly; if it breaks, we will follow the trend and go short.