Bitcoin has recently performed strongly, with long positions sentiment running high and market funds continuously flowing in. The coin price has tested the $121,000 level multiple times, and if it can effectively break through, it is expected to further rise to the $123,500-$125,000 range.

However, from a technical perspective, Bitcoin has shown a divergence signal in the MACD indicator after a continuous rise, and the trading volume has not increased in sync, indicating a high risk of chasing the rise at high levels. Investors need to be cautious of potential pullbacks, with key support levels in the range of 118,500 to 119,000 USD. If it falls below this range, it may trigger a short-term adjustment.

Overall, Bitcoin still maintains a strong pattern, but it may be accompanied by fluctuations in the short term. Long positions investors can set their stop-loss below $118,000, while short positions need to be wary of risks above $121,000.

The current market focus remains on whether Bitcoin can break through the $120,000 mark, as well as the potential impact of macro factors such as the U.S. government shutdown on the cryptocurrency market. Investors should closely monitor market trends and manage risks appropriately.