The Bitcoin market has recently shown a volatile trend, attracting close attention from investors. Currently, the short positions liquidity above BTC has reached a critical level of 123064 points, which is worth monitoring. Market observers point out that in case of a "no clear out" situation, investors need to remain highly vigilant to guard against unexpected market movements.

With the recent rise of Bitcoin, the market has formed two gaps, located in the range of 118400-119100. These two gaps are close to the current price, and there is a high probability that they will be filled within this week. For medium to long-term contract investors, these positions may become potential opportunities for building positions. However, short-term traders should act cautiously and avoid making rash moves.

From a technical perspective, the Bitcoin daily chart shows the possibility of a double top pattern. If it fails to break through the previous high, the price may return to range-bound fluctuations. Only by breaking new highs can the potential threat of the double top pattern be eliminated. At the same time, there is a phenomenon of divergence in the market, where prices are rising but trading volume has not increased correspondingly, which is usually seen as a bearish signal.

In terms of short-term trading advice, if Bitcoin can break through 121410 with volume, consider entering long positions; if it falls below 120964 and the rebound fails to recover, there may be an opportunity to go short. On the hourly level, 121435 is a key position; if it breaks and stabilizes, we can look towards the 121815-122450 range. However, if it cannot hold above 122450, it will be difficult to reach the previous high.

On the four-hour level, 120566 is an important support level. If it falls below this level, the next target range will be 119242-118098, at which point the previously mentioned gap may be filled.

It is worth noting that after a false breakout of the triangle pattern on the four-hour chart, there has been a pullback, forming a long upper shadow, which may indicate a short-term top risk. Unless it can break through and stabilize above the triangle's upper edge, the possibility of a pullback is relatively high.

Overall, the current Bitcoin market presents both opportunities and risks. Investors should closely follow price trends and changes in trading volume, while seizing opportunities and managing risks effectively.