Recently, the price of Bitcoin has experienced a pullback, which had actually shown signs earlier. From the 4-hour chart perspective, there had already been indications of divergence, and this adjustment also meets the requirements of the technical analysis.

Currently, the Bitcoin price has just pulled back to the 50% position of the golden ratio. If it can stabilize during the day, there is hope to fill the gap left by yesterday's decline in the future. Investors should pay close attention to the performance of the key support level around 116500.

For future operations, consider building a position in the range of 117500-117800, with a target set at 119000-120000. If this range is broken, a further upward target of 122000 can be considered. However, if the price falls below 116500, it is recommended to stop loss in a timely manner.

It is worth noting that the cryptocurrency market is highly volatile, and specific operational strategies need to be flexibly adjusted based on real-time market conditions. In addition, investors should also pay attention to the potential impact of macroeconomic environment and regulatory policies on Bitcoin prices in order to make more comprehensive investment decisions.