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In the recent four-hour trading period, the price of Bitcoin experienced a rise followed by a slight pullback. Notably, the price found strong support near the middle band of the Bollinger Bands and is currently stable at the level of 120000 dollars. This trend indicates that Bitcoin still maintains a relatively strong market position.
From a technical perspective, the Bitcoin candlestick chart shows that the price continues to operate above the middle band of the Bollinger Bands, which is typically seen as a positive signal. If the market maintains this momentum, we may see further pump.
For short-term investors, attention can be paid to the range of 118990 to 119550 USD as a potential buying opportunity. If the price can break through the current level, the next important target price may be around 123500 USD.
However, investors should also keep in mind that the cryptocurrency market has always been highly volatile, and price movements can be influenced by various factors. Therefore, it is essential to conduct thorough research and risk assessment before making any investment decisions. Continuously monitoring market dynamics and flexibly adjusting strategies are crucial for achieving success in this rapidly changing market.