On Monday evening, Bitcoin surged and then fell back, failing to sustain the morning's uptrend, with short-term momentum weakening. Although there are currently no clear signals of a peak, the bullish momentum is insufficient in a fluctuating downward pattern, and it is not advisable to blindly chase long positions in the evening; caution is needed for further pullback risks.
Key support areas to watch are 119,000-118,500. If this range is broken, it may accelerate the downward movement; conversely, if it stabilizes, a short-term rebound opportunity may arise.
Trading suggestion:
Consider lightly shorting if the price rebounds to the 121,000-121,500 range, targeting around 119,000.
