Bitcoin at $124.5k: Watch for Follow-Through or a Pullback

I note Bitcoin just reached a fresh high near $124,500, and I see two clear paths from here. Either momentum extends and price makes a sustained move higher, or we get a cycle top followed by a corrective pullback to test support.

Given the run-up, the upside scenario requires follow-through volume and firm closes above recent highs; absence of that would favor profit-taking and a retrace toward key support levels. Volatility will likely increase as traders choose sides.

I prefer a measured approach: watch for confirmation before adding risk, use size limits and defined stops, and consider buying weakness rather than chasing new highs.