Bitcoin has performed exceptionally well recently, showing strong upward momentum over the weekend, which is different from the usual weekend fluctuations and adjustments. This digital asset has successfully climbed to around $119,000, almost recovering most of its previous losses.

However, the integer threshold of $120,000 remains an important psychological barrier. Considering the current release of bullish forces, the likelihood of breaking through this level in the short term is not high.

From a longer time frame perspective, the overall trend of Bitcoin is still showing a downward trend, with highs gradually decreasing and support levels being continuously breached. Although there have been three bullish candles recently, the trading volume has not significantly increased, so whether this surge can be sustained still requires further observation.

In the short term, the market seems to be in a range-bound state. It is expected that after the U.S. stock market opens, the Bitcoin trend may show a clearer direction. If there are no significant events affecting it, the intraday market may fluctuate within a range of 1000 dollars.

For trading strategies, it is recommended to adopt the method of shorting at high positions and going long at low positions. You can look for shorting opportunities in the top resistance area, while looking for long opportunities near the bottom support level.

Currently, the key pressure range is between $119,800 and $119,300, while the main support target is in the range of $118,000 to $117,500.

Investors should closely monitor market trends, especially changes in trading volume, as well as the potential impact of the opening of the U.S. stock market. At the same time, they should also be wary of potential macroeconomic factors and changes in regulatory policies, all of which could have a significant impact on Bitcoin prices.