In the latest market analysis, Bitcoin (BTC) has shown stronger-than-expected performance. Despite experiencing adjustments, the price has firmly held onto the key support level of 115700, demonstrating that market confidence in BTC remains robust.

Currently, BTC has firmly stood above the important threshold of 118500, with the next key target level at 120500. If it can effectively break through 121400, it is very likely to initiate a new round of upward movement, aiming for a historical high. The specific target price still needs further observation of market trends to be determined.

For investors, it is currently advisable to consider entering the market during slight pullbacks. The important support level lies between 118000 and 118200, which may present a good buying opportunity. However, it is important to note that we are about to face a significant resistance level, so investors should remain cautious when chasing highs.

It is worth mentioning that the current market sentiment is leaning towards optimism, and the possibility of a bull trap does not need to be considered for the time being. This positive market atmosphere may be related to favorable news such as Ethereum breaking through 3700 USD and Chainbase landing on the Binance platform. In addition, MicroStrategy's founder Michael Saylor hinted that he might increase his holdings of Bitcoin, which has also injected a strong boost into the market.

Overall, Bitcoin's current trend is strong, and it is expected to continue rising in the short term. However, investors still need to closely monitor market movements and remain rational and vigilant when making investment decisions.