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#比特币价格分析与预测# Reviewing the price movement of Bitcoin makes one marvel at the magic of market cycles. Recently, BTC has returned to around $120,000, once again verifying the importance of the key support level at $117,000. From historical experience, every time this level is touched, a rebound often follows. However, it is still too early to be blindly optimistic. Currently, BTC is still operating within the MVRV extreme deviation pricing range, with potential resistance forming at $125,000 above. Only by breaking through this threshold and holding above can we hope for further attacks towards $137,000. Conversely, if it encounters resistance and falls back, we must remain alert to the possibility of retesting the $117,000 support. The investment market changes rapidly, but history is always remarkably similar. Following these key price levels may help us better grasp the market rhythm.