The latest Bitcoin price movement analysis shows that the upward trend starting from $74508 is still maintained above the main trend line, with the current trend support level approximately at $113707. From the overall fluctuation pattern, the current market appears to be in the early stage of a new rising wave.

Currently, bullish forces are challenging the important level of $119,829. This price point is not only the neckline resistance of the previous double top pattern but is also seen as the last line of defense for the bearish camp. If Bitcoin can strongly break through this level and stabilize above it, we are likely to see the price enter a rapid pump phase. In this case, the short-term target range could reach $122,500 to $125,000, and if the upward momentum continues, it could even touch the upper limit around $128,000.

However, if Bitcoin encounters resistance around $119,829 and falls back, especially if it breaks below $117,000, the recent pump structure may be weakened. The market may enter a more complex adjustment phase. In this case, we need to closely monitor the support range of $113,707 to $112,000. If this range also fails to hold, the adjustment magnitude may further expand to around $107,500, or even $103,200.

Currently, both bulls and bears are engaged in a fierce battle at a critical position. Whether the key resistance level of $119829 can be broken will directly determine the direction of the upcoming market — whether it will enter an accelerated rise in the fifth wave or fall back into an adjustment period. Investors should closely monitor the performance at this price level and make appropriate risk management and strategy adjustments.