Recently, the Bitcoin market has experienced a wave of pump, currently approaching the important resistance level of 119500. Whether this position is broken will determine the short-term trend.

If it can effectively break through 119500, the next key resistance level will be 120500. The performance at these two positions will provide important market signals for investors.

However, if the breakout does not occur, we may see a slight pullback. In this case, the range of 116500 to 116200 will become the primary focus support area. If this range cannot hold, 115800 will become the next important support level. It is worth noting that if the downward trend does not continue near 115800, there may be a rebound opportunity in the market.

For trading strategies, you may consider looking for long opportunities in the range of 116500 to 117000, with a target set at 120000 and a stop loss set around 500 points. On the other hand, if the market encounters resistance in the range of 118800 to 119500, you can also try shorting, with a target of 117000 and similarly set a stop loss around 500 points.

Overall, the current Bitcoin market is at a critical position, and investors need to closely monitor the performance of these important price levels and adjust their strategies in a timely manner based on market reactions. Whether it's a breakout or a pullback, it may present trading opportunities, but at the same time, attention should be paid to risk management and setting stop-loss levels appropriately.