The real breakthrough of Bitcoin is usually accompanied by a sustained rise trend, which often does not leave much opportunity for investors to get on board at lower prices. When the Bitcoin price touches the previous high of 123400 dollars, it is likely to continue to maintain its upward momentum. Even if a short-term pullback occurs, it may only dip to around 121600 dollars before moving upwards again. If the pullback exceeds this level, it may indicate insufficient upward momentum.

Investors need to closely monitor short-term price trends. If there is no significant rise within 4 hours or longer, it may indicate a market reversal. This characteristic of sustained rises with limited pullbacks is one of the important indicators for determining whether Bitcoin is in a bull market.

It is worth noting that the volatility of the Bitcoin market is significant, and investors should consider multiple factors when making decisions, rather than relying solely on a single indicator. At the same time, one should also be wary of the risks that may arise from excessive optimism and maintain a rational and cautious investment attitude.

In the current market environment, closely monitoring the performance after a price breakout from key resistance levels and the changes in trading volume are important indicators for assessing the sustainability of the market trend. Whether professional investors or ordinary participants, everyone should establish their own risk management strategies to cope with various market possibilities.