Bitcoin has recently experienced a brief pullback, but the market has shown strong resistance to falling. Prices have formed a solid support level around $117,410, with multiple tests failing to break through effectively, laying a foundation for a possible rebound in the future. The MACD technical analysis indicator's green histogram shows a converging trend, which is often seen as a signal of potential reversal.

Considering the current market situation, the price of Bitcoin is likely to challenge the previous high of $124,545. Investors can pay attention to the price performance in the range of $116,500 to $117,000, as this area may become a key buying opportunity. If this range is broken, Bitcoin is expected to challenge the two important resistance levels of $119,000 and $121,000 in the short term.

However, investors should keep in mind that the cryptocurrency market is highly volatile, and price trends can be influenced by various factors. When making investment decisions, it is essential to conduct a comprehensive risk assessment and consider personal risk tolerance and investment goals. Closely monitoring market dynamics and timely adjusting strategies will be a wise move to cope with this ever-changing market.