Recently, the price of Bitcoin has been fluctuating around $118,100, showing a clear hesitation. Previously, when the price reached a key resistance level, market sentiment suddenly turned cold, resulting in a significant fall candle. Currently, Bitcoin is hovering near the middle band of the Bollinger Bands and may continue to show a volatile trend in the short term.

Analysts suggest paying attention to the pullback range between 117500 and 117000 dollars, which may provide better entry opportunities for investors. If market sentiment improves, Bitcoin is expected to challenge the first target level of 118500 to 119200 dollars. If it can break through the current resistance, the possibility of hitting the 120000 dollar integer level cannot be ruled out.

However, investors still need to be cautious and closely monitor market trends. At this stage, the performance of Bitcoin is influenced by multiple factors, including the global macroeconomic environment, changes in regulatory policies, and the attitudes of institutional investors. Before making any investment decisions, it is advisable to consider various factors comprehensively and to manage risks effectively.