Bitcoin Targets $120KBitcoin / TetherUSBINANCE:BTCUSDTNigelJuliet On the daily chart, Bitcoin has shown strong bullish momentum, breaking past the previous resistance of $112,000. The move was supported by a surge in volume, indicating conviction in the uptrend. The latest candlestick pattern shows continued buying interest after the $98,240 bottom. The current price action hints at a possible attempt to breakout above psychological resistance near $119,000, with long positions ideally to be entered on a pullback to the $112,000 to $114,000 range. The target area is between $119,000 and $121,500, depending on continued strength. The 4-hour BTC/USDT chart supports this bullish outlook, showing a clear impulse leg from around $111,000 to over $118,000. A bull flag pattern has developed, suggesting this is a healthy consolidation rather than a reversal. Volume is consistent with this narrative – higher during the breakout and lower during the consolidation. An entry signal would occur on a breakout above $118,800 or a pullback to $115,000 to $116,000, while resistance between $120,000 and $121,500 remains key. There are no immediate signs of a bearish reversal, confirming upside potential in the short to medium term. Bitcoin remains in a well-defined uptrend, supported by strong support from all major moving averages, as well as buy signals from key momentum indicators such as the Momentum (10) and the Moving Average Convergence Divergence (MACD). The bullish breakout above $112,000, solid volume, and technical formations on the daily and 4-hour charts all suggest that further gains towards $120,000 and higher remain possible if resistance near $118,800 is decisively broken. Despite the current uptrend, short-term signals on the hourly chart show signs of slowing down near recent highs, with bearish candles and weakening volume, increasing the risk of a short-term pullback. Overbought oscillator readings and the psychological resistance zone around $119,000 could lead to profit-taking or temporary weakness, especially if the price fails to maintain support above $116,000.