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In last night's market, BTC first fell to around 118800, then long positions increased significantly and pumped, breaking through to around 121600 today, allowing us to witness a historical new high once again.
From a technical perspective, the hourly chart shows higher trade volumes pushing above the upper band, and the four-hour chart has also successfully broken through the upper band, with the strength of long positions continuing to be released. At this time, one should follow the trend. The 120,000 level has been broken, and there have been no signs of a pullback yet.
It is recommended to long BTC near 120500-121500, with a target around 123000. Watch for a breakout and maintain good defense.
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