This morning at 8 AM, Bitcoin (BTC) is priced at $119,380, rising $1,214 in the past 24 hours, with a rise of 1.03%. The intraday high reached $119,766, and the low fell to $117,911, with the fluctuation range narrowing, and the market maker sentiment showing slight positivity.

Currently, the price of BTC is fluctuating between 117,900 and 120,000 USD, approaching recent resistance levels. If it can effectively break through the 120,000 USD barrier today, it is expected to challenge the range of 122,800 to 123,600 USD in the short term. However, if it faces resistance again, it may drop back to 117,000 USD, or even test the support level of 114,800 USD.

On the technical front, the relative strength index (RSI) on the 30-minute chart is nearing the overbought territory, while the moving average convergence divergence (MACD) still maintains an upward trend, indicating that short-term bullish momentum remains. However, insufficient trading volume is still a potential risk for the upside.

For investors, the following strategies can be considered:

1. If the price stabilizes and rebounds at $117,900, a small position can be taken to go long, with a target price of $120,000.
2. If it can break through 120,000 USD with significant volume and hold, the mid-term target can be set around 123,000 USD.
3. Once it falls below $117,000, bears may take control of the situation, and short-term trading must set strict stop losses.

The market is waiting for a key breakthrough, and it is recommended to closely watch the market trends during the US trading session.

In short, Bitcoin is hesitating around the $120,000 mark, and whether it can break through will determine the short-term trend. If it successfully breaks through, a rapid rise may be on the horizon; if it fails, it may continue to fluctuate within the current range. Investors need to stay vigilant and adjust their strategies in a timely manner based on market changes.