This Wednesday evening, the Bitcoin (BTC) market showed a trend of fluctuating strength. From a medium-term perspective, although there has been a continuous rise recently, the momentum has slightly weakened. Despite some price pullbacks, the overall trend remains relatively strong. It is worth noting that the upward process has been accompanied by multiple pullbacks, indicating some controversy in the market. In terms of technical indicators, the Bollinger Bands are still in an expanding trend, and the KDJ indicator continues to improve, all of which collectively suggest that the market is still in a fluctuating and strong pattern.

In the short term, Bitcoin has experienced a rapid rise followed by a pullback. The appearance of a long upper shadow suggests selling pressure above, temporarily interrupting the bullish momentum. However, the MACD indicator still maintains an upward movement and is in the positive range, providing some support for the market going forward.

Based on the current market conditions, it is recommended that investors adopt a cautiously optimistic strategy. Consider looking for buying opportunities in the range of $119,000 to $119,500, with a target price set in the range of $121,500 to $122,500. It is important to emphasize that the cryptocurrency market is highly volatile, and investors should set stop losses according to their risk tolerance to ensure the safety of their funds.

Overall, the Bitcoin market is currently at a critical stage and may continue to oscillate and consolidate within the current range in the short term. Investors should closely monitor market changes and adjust their strategies in a timely manner, seizing potential opportunities while also managing risks.