Bitcoin Targets $120K After Surpassing $96K Resistance

Bitcoin has broken past the $96K resistance, signaling strong bullish momentum with a potential target of $120K. The cryptocurrency is currently trading at $98,633.53, supported by increased buying pressure and declining exchange reserves, which indicate long-term investor confidence. Technical indicators, such as the RSI and Fibonacci retracement levels, confirm the bullish trend, although maintaining the $96K support is crucial to avoid potential retracements. Rising active addresses and transaction counts further bolster Bitcoin's bullish outlook.