Bitcoin is showing a fluctuating upward trend on the 4-hour level. Yesterday, it successfully tested the upper edge of the downward trend line and gained support for a rebound. The current key support level is around $118,000. If this position can be maintained, there is hope for further upward movement towards the $122,000 resistance area.

From a technical structure perspective, the $116,000-$117,300 range forms a stronger support zone, which not only has technical significance but also has a relatively reasonable risk-reward ratio. Investors may consider gradually building long positions within this range, while also suggesting the setting of strict stop-losses to control risk.