Pancake has retreated after reaching a high level, fluctuating within a range; analysis of next week's trend

This Saturday, the 'high-risk' summit held in Alaska aims to discuss the Ukraine ceasefire agreement, the outcome of which may have significant implications for Bitcoin. Geopolitical uncertainty and a lower interest rate environment typically stimulate investor demand for Bitcoin.

Next week's Bitcoin analysis:

After Bitcoin surged above 124500, it retreated due to PPI news, experiencing intraday fluctuations, and ultimately fell below the previous low of 116600. However, from the current technical structure, this decline has not altered the overall upward structure. The continuous increase indeed indicates a need for adjustment, and the positive news in the market will not change due to short-term declines. Overall, the larger structure remains bullish, and next week, we still aim for 130,000.

Next week's short-term focus for BTC is on the resistance level between 121000-124000, while key support is below at the 117000-115800 level.