The Bitcoin market presented an interesting trend today. In the morning session, the price first surged and then retreated, showing a stepwise downward trend. However, it is worth noting that despite the price retreating, it did not fall below the key support level, indicating a certain level of resilience.

From a technical analysis perspective, the Bollinger Bands indicator continues to rise on the upper band, which fully illustrates that the current market's trading volume remains stable. Therefore, investors can continue to pay attention to opportunities for buying at low levels in subsequent operations.

Currently, the market's focus is on the key price level of $117,200. Investors need to be cautious of the support level at $116,500; if it falls below this level, it could trigger further declines. On the other hand, if the price can stabilize and rebound, the target price level to watch is in the range of $119,000 to $120,000.

In general, the current Bitcoin market is at a critical moment of support and breakthrough. Investors should closely monitor price trends, manage risks appropriately, and seize potential investment opportunities.