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From the current market perspective, BTC rose all the way to 124500 in the morning before facing pressure, starting to oscillate at a high level near 123500. From a technical standpoint, the coin price is expected to pull back a little in the short term, but observing the hourly chart, the market still continues to be dominated by the upward trend. Lao Wang expects this pullback to reach just above 123000, and then after some oscillation to gather strength, it will start to break upwards again. Both the daily chart and hourly charts indicate a consistent upward signal. This wave of rise is very likely to break the previous high, reaching near 125000.