The recent performance of the Bitcoin market has attracted attention. Observing the short-term hourly chart, the price of Bitcoin briefly rose to around $117,400 in the early morning but retreated after encountering resistance. Currently, the market shows a volatile downward trend, but the downward momentum is not strong.

Analysts point out that if Bitcoin can break through the key resistance level of $117,400 next week, it may trigger a new round of upward momentum. For long-term investors, any price above $114,000 could present a better buying opportunity, with an initial target price set at $120,000. If this level can be broken, the market is expected to continue rising.

It is worth noting that the current cryptocurrency market is overall showing an active trend, with several mainstream tokens performing prominently. Investors should closely follow market trends, assess risks reasonably, and develop investment strategies suitable for themselves.