Bitcoin followed the CME futures for a volume-driven rise in the morning. There is a large gap below. The small-scale upward fluctuations have completed an accelerated upward push. After a narrow range of oscillation during the day, profit-taking bulls are starting to choose to liquidate part of their positions.
4H level begins to pull back down. The short-term bullish structure is still in place, and positions taken at high levels do not need to be overly cautious. Observe the rebound strength after the pullback before assessing whether the bullish trend can continue.
In the evening, pay attention to whether the support around 119/118 can hold effectively, then continue to observe the rebound testing previous high points.
Upper pressure: 123230/126800
Lower support: 120200/119620/118500/117200
