The price of Bitcoin is currently in a consolidation phase, fluctuating between $116,700 and $117,465. Technical analysis shows that although there have been some bearish signals in the short term, the overall market trend remains unclear. Several technical indicators, such as moving averages, Momentum Index, as well as Bollinger Bands and the Relative Strength Index (RSI), are showing a neutral stance, further confirming the current oscillation pattern.

Given that key support and resistance levels are showing strong resilience, it is expected that the Bitcoin price may continue to fluctuate within this range in the short term. Investors should closely monitor the performance in the range of 120,000 to 120,500 dollars. If the range is broken, the next focus may fall on the range of 119,000 to 119,500 dollars.

In the current market environment, investors need to remain cautious and closely monitor market trends and potential breakout signals. At the same time, it is important to note that although Bitcoin has recently broken through the $120,000 mark again, market sentiment still appears hesitant, which may indicate that the market will continue to fluctuate in the process of seeking a clear direction in the coming period.