Recently, the price movement of Bitcoin has shown positive signals. From the four-hour chart, after experiencing three consecutive bearish pullbacks, the strength of short positions has clearly weakened, and multiple technical indicators have started to improve. This indicates that the intensity of the pullback in the short term has been limited, and the overall long positions pattern remains solid. The current adjustment can be seen as a normal consolidation in the rising process, preparing for the subsequent breakout.

From the perspective of the one-hour chart, a three consecutive bullish candles have initiated a rebound trend. Although there is some selling pressure at the middle band of the Bollinger Bands, temporarily affecting the upward speed, it has not changed the overall rising trend. The price still maintains a slow, stair-step upward movement, but the pace of ascent appears to be somewhat sluggish.

Comprehensive analysis suggests that the current market is still dominated by long positions. Investors may consider establishing long positions near pullback support levels, in line with the overall rise trend. Specifically, operations can be carried out by going long on dips in the range of 117900-118500, with upper targets focusing on key price levels such as 119500, 120600, and 121100. If these levels are broken, further upward movement is expected. However, if a breakthrough does not occur, timely profit-taking or attempting a reverse operation can also be considered.

Investors need to be aware that the cryptocurrency market is highly volatile and carries significant risks. When making any trading decisions, it is essential to thoroughly assess the risks, manage positions appropriately, and set stop-loss orders to protect funds. At the same time, keep a close eye on market changes and important news events to adjust strategies in a timely manner.