Brothers, now Brother Chen brings you the latest market analysis and trading ideas for Bitcoin.

First, let's take a look at the key positions. The upper level of $121,200 is a psychological level that everyone is concerned about, while $122,000 is a resistance level near the previous high. If we can break through smoothly, we can expect to explore up to $126,000 or even $130,000; the support below is also very clear, with $119,000 having the EMA60 moving average as support, and $118,000 being the Fibonacci 50% retracement level. If we unexpectedly break below, the CME gap at $116,000 may become an important support.

Looking at the technical aspects, the 4-hour MACD golden cross brings a short-term positive signal, and the daily line's "bullish engulfing" further confirms a stable short-term trend. The overall moving average system presents a bullish arrangement, providing good support for the trend. However, the price is currently consolidating in the $118,000–$122,000 range, as if accumulating strength. If we can stabilize above $121,000 with accompanying trading volume, we can expect a smoother upward movement.

Finally, let’s talk about Brother Chen's trading strategy: entering long positions in the $119,500–$120,000 range, with the initial target at $121,000. If it breaks through, the next target is $122,300. Brother Chen also believes that we may see a surge to a new record of $124,000 in the coming days. Of course, make sure to have protective measures in place during trading to feel more secure.~#btc