Bitcoin will reach 120,000 during this day.
The Bitcoin (BTC/USDT) is experiencing strong momentum after rising above the $118,000 level, opening the door for the possibility of reaching $120,000 in the near term. Technical analysis indicates that breaking the current resistance at 118,400 – 118,600 with a strong candle and high trading volume could pave the way towards this target. Additionally, momentum indicators like RSI and Stochastic remain positive, enhancing the chances of the upward trend continuing if liquidity continues to flow and technical support holds at 117,100 and 116,400.
However, traders are advised to exercise caution and not rush into positions until clear technical signals appear, such as a bullish engulfing candle or a clear breakout of resistance, especially since the price is currently moving near a sensitive area. Thus, reaching $120,000 is no longer far away technically, but it requires real confirmation on the chart to ensure safe entry and minimize risks.
$BTC
