From the hourly chart perspective, although there are signs of a rebound in Bitcoin currently, the momentum is clearly insufficient. In the ongoing sideways consolidation, it is recommended for those who previously followed the bottom to go long to take a small profit and secure it first, prioritizing risk management.
In the short term, it is crucial to focus on the resistance level in the 118500 - 119200 range. If the market can effectively break through this area, there will be a chance to initiate a second rally, with upper targets looking at 121000 and 122000; conversely, if the rebound cannot stabilize above 118500 and fails to break through the 119200 resistance, one should be wary of the possibility of another pullback.
The weekend market is likely to be dominated by fluctuations, and there is no need for excessive interpretation for now. If a suitable entry opportunity arises, I will promptly share it with everyone.
