Last night, the price of Bitcoin began to rise strongly, successfully breaking through its historical high in the early hours, and many investors chose to take profits at the high.

As Bitcoin reaches new highs, market volatility may increase at any time, and the risk of a significant pullback cannot be ignored. In the short term, price trends are difficult to predict accurately and may continue to pump in the next couple of days. A clearer trend judgment requires waiting for the complete presentation of the daily pattern. Considering yesterday's closing situation, intraday traders can set stop-loss orders near support levels to enter the market.

The key support range today is between $120,800 and $121,500. If the price dips near $120,000, investors should remain vigilant and closely monitor market changes. At such an important price point, risk management becomes particularly crucial, and it is advised that investors operate cautiously based on their individual risk tolerance.

It is worth noting that while short-term price fluctuations can be severe, the long-term development prospects of Bitcoin remain noteworthy. With the continued entry of institutional investors and the ongoing improvement of the cryptocurrency ecosystem, Bitcoin's status as a digital asset may further solidify. However, investors should also be aware of the high-risk characteristics of the cryptocurrency market, reasonably allocate their assets, and avoid excessive speculation.