Yesterday, the Bitcoin market exhibited significant volatility, with prices climbing from a low of $115,850 to a high of $120,150, ultimately closing near $120,000. This trend has attracted close attention from market participants.

From a technical analysis perspective, $117,250 is a key support level. If the price breaks below this level, it may further test the vicinity of the 30-day moving average. For traders looking for long opportunities, this position could be a potential entry point.

In terms of upward movement, $121,000 is currently the main resistance level. If Bitcoin can break through this level, we may see new highs emerge. The MACD indicator is currently showing a flat oscillation, with the two lines closely aligned, indicating that the market may be in a stage of building momentum.

From a shorter time frame of four hours, $117,900 is a support level that needs close attention. If the price drops below this level, it may further decline towards the 90-period moving average. Similarly, this position may also provide trading opportunities for traders to go long.

On the other hand, $120,200 is an important resistance level in the short term. If Bitcoin can break through this level, the next target price may be $121,800.

Overall, the Bitcoin market is currently at a critical technical position. Although there may be some fluctuations in the short term, the overall trend remains positive. Investors should pay close attention to these key price levels while managing risks carefully, as the high volatility of the cryptocurrency market can lead to sudden price changes.