The current price of Bitcoin has surpassed the $122,000 mark, maintaining a fluctuating upward ladder structure at the daily level. The middle track of the Bollinger Bands provides effective support, and a MACD golden cross is beginning to appear, indicating enhanced bullish momentum.

From a technical perspective, the daily chart candles have reached the upper track of the Bollinger Bands, and the MACD golden cross is beginning to emerge, suggesting there is still room above. In the hourly chart view, the candles have already crossed above the upper track of the Bollinger Bands, but the KDJ is in an oversold state, showing a slight downward trend for bears, necessitating caution for potential pullback risks. Currently, the first resistance level above is at $122,500, the second resistance level is at $123,300 (historical high), while the first support level below is at $119,000 (the middle track of the hourly chart Bollinger Bands), and the second support level is at $117,300.

Suggested range for long positions: If the price pulls back to the range of $118,500-$119,300, a light long position can be attempted, with an upper target of $123,000 and a stop loss at $118,000.

Suggested range for short positions: If the price fails to form an effective breakout in the range of $122,000-$122,500, a light short position can be attempted, with a lower target of $119,000 and a stop loss at $123,000.