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According to the latest Technical Analysis, Bitcoin ( BTC ) is currently showing a strong pump momentum. Indicators across multiple time frames are displaying positive signals, bringing optimistic expectations for future price movement.
On the 12-hour chart, BTC has broken through the descending trend line and stabilized above several important moving averages. Momentum indicators such as RSI and MACD are both in the bullish zone, further strengthening the possibility of a rise.
The 4-hour chart also shows a bullish trend, with the price above the moving averages, and various technical indicators supporting further price movement.
Although the upward momentum on the 1-hour chart is relatively mild, it remains above the key support level. If it can break through the resistance level of 121,250 dollars, it may trigger a quick pump in the short term.
Currently, the market is generally optimistic about the rise of BTC. The first important target price level is $123,746, and if it can break through this position, the subsequent target may extend to $128,118. However, investors should also be wary of potential false breakouts, and it is recommended to adopt a strategy of entering in batches and timely adjusting stop-loss orders to control risks.
For more conservative traders, it may be worth considering buying on dips in the range of $119,800-$120,100, while setting a stop loss below $119,700. If the price falls below $118,800, it may be necessary to reassess the current bullish outlook.
Overall, the current technical analysis of BTC shows positive signals, but investors should still operate cautiously and manage risks to cope with potential market fluctuations.