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Currently, the Bitcoin market is showing some fluctuation. From the four-hour chart, the Bitcoin price has dropped after reaching a high point and found support near the middle band of the moving averages. At present, the BTC price is hovering around 119600 dollars, indicating a certain consolidation trend.
For potential pullbacks, investors can focus on selling opportunities in the range of $120,000 to $121,000, but they need to be cautious of the possibility of breaking above $120,500. If the pullback is successful, the next key support area may be between $118,000 and $117,000.
This oscillating market reflects the uncertainty of market participants regarding the value judgment of Bitcoin in the short term. Investors should closely monitor market changes, reasonably control risks, and conduct a comprehensive analysis in conjunction with other technical indicators and fundamental factors when making trading decisions.