The price dynamics of Bitcoin (BTC) are attracting attention. Recently, BTC failed to reach the expected level of 121, only touching around 119.2, indicating that the current long positions are relatively weak. This situation prompts us to shift our focus to the important support level in the consolidation zone - approximately 115.8 VAL (Trading Volume Distribution Low Point).

It is worth noting that this level resonates with the rising wedge boundary on the daily chart, forming a potential key support point. If BTC can hold steady at this position, we can expect the price to move towards 119. However, investors should exercise caution and adopt a segmented take-profit strategy to manage risks.

If the 119 level cannot be broken, the 112 to 113 range may become the next important observation point. The rising wedge pattern on the daily chart combined with the top divergence signal suggests that BTC may face downward pressure.

After the support of the POC (Point of Control) in the consolidation range fails, the VAL becomes a key defense line. This position coinciding with the wedge boundary provides potential entry opportunities for investors. However, market participants still need to remain vigilant and closely monitor the evolution of price trends.

Overall, BTC is currently at a critical point in its technical formation, and investors should carefully assess market risks and opportunities by combining multiple technical indicators.