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According to the latest market analysis, Bitcoin is currently facing a significant resistance level. Around $118,200, selling pressure has noticeably increased, and the likelihood of breaking through this key level in the short term is low.
On the contrary, we may see a certain degree of pullback in the Bitcoin price over the next day and a half. The expected decline could be between 3,000 and 5,000 dollars.
This potential pullback may provide investors with a better entry opportunity. However, market participants should remain cautious and closely monitor market trends and various influencing factors.
It is worth noting that although there may be downward pressure in the short term, the long-term outlook for Bitcoin is still viewed positively by many analysts. Market volatility is the norm in the cryptocurrency space, and investors should make informed decisions based on their risk tolerance and investment goals.