The Bitcoin market has recently shown a mild pullback, ending the previous upward trend. However, this pullback is not a signal of market weakness; rather, it may provide new opportunities for investors to get on board.

From a technical perspective, the market is focusing on two important price ranges. The key resistance level above is between $121,200 and $122,100, which could become the primary testing target in the short term. If the price can break above this level, investors can expect further progress towards the previous high of $123,200. A break above this level will be seen as a positive signal for the continuation of the bull market.

However, if the resistance level above is difficult to break through, the market may seek support below. Currently, investors should closely monitor the 1-hour moving average MA100 around $118,500 and the EMA200 around $115,300. In particular, MA100, being the first touch since this round of increase, is expected to trigger a strong market reaction.

Although there may be fluctuations in the short term, the long-term trend remains optimistic. The market generally expects Bitcoin to break through the $130,000 mark during this round of upward cycle.

For traders, adjusting strategies in the current market conditions is especially important. Intraday short-term trading opportunities still exist, but they require more caution and flexibility. At the same time, medium to long-term investors may see this pullback as a good opportunity to get on board.

Overall, the Bitcoin market is at a critical crossroads. The upcoming price movements will provide us with more clues about market sentiment and future trends. Whether investors hope to capitalize on short-term fluctuations or lay out long-term strategies, they need to closely monitor market trends and manage risks effectively.