The Bitcoin (BTC) market has continued its strong pump recently, with the price now surpassing the $117,000 mark. According to market analysis, BTC is expected to maintain its rise momentum in the short term.

The current BTC price has reached $117,950, with a 24-hour rise of 0.66%. From a technical perspective, the Relative Strength Index (RSI) is at 55.87, in a neutral to bullish area, indicating that the market still has upward momentum. At the same time, the Moving Average Convergence Divergence (MACD) shows a positive divergence, further confirming the strength of buying power.

Analysts believe that the next important target range for BTC may be between $119,000 and $120,000. If it can break through this range, it is expected to challenge new highs of $122,000 to $123,000. However, considering that the current price is at a historical high, investors should also be cautious of potential pullback risks.

For potential support levels, analysts point out that $115,930 (recent low) and $107,800 (key support level) are levels worth noting. On the resistance side, in addition to the aforementioned target price levels, $118,330 (recent high) is also an important threshold.

It is worth noting that the current macro environment may affect market sentiment. For example, changes in the China-U.S. trade relationship may impact the performance of risk assets. Additionally, as prices reach new highs, some institutional investors may choose to take profits, which could put short-term pressure on the market.

For investors intending to participate in trading, professionals recommend adopting a phased position-building strategy and strictly controlling risks. Specifically, it is advised that a single trade position should not exceed 30% of the total capital, while also setting reasonable stop-loss levels to cope with potential market fluctuations.

Overall, although BTC still has room to rise in the short term, investors should remain cautious, closely monitor market changes, and manage risks effectively. After all, the cryptocurrency market is highly volatile, and investors should make judgments based on their own situations and be responsible for their investment decisions.