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The price of Bitcoin has undergone a day's fluctuation adjustment and has presented a typical double bottom pattern, also known as a W bottom. This technical pattern is often seen by market analysts as a potential bullish signal.
Currently, the market focus is on whether Bitcoin can break through the key resistance level of 120,000. If the price successfully breaks this level, it may indicate that the adjustment phase has ended and bullish forces are beginning to dominate. In this case, investors may consider going with the trend and participating in the potential rise.
However, the market trend always carries uncertainty. If the price fails to break through the key resistance level, the market may experience a short-term pullback. Some traders may choose to layout cautiously in this situation to seize potential short-term trading opportunities.
In any case, investors should closely monitor market trends, taking into account their own risk tolerance and investment strategies to make prudent investment decisions. In the highly volatile cryptocurrency market, risk management and rational analysis are particularly important.