Bitcoin Potential Breakout Above 118,720 Targets 119,500 to 120,000

If Bitcoin breaks the 118,720 level with increased volume, it has the potential to move up to 119,500 or possibly even 120,000. Once the key resistance at 118,720 is surpassed on strong trading volume, I expect the cryptocurrency to target the 119,500 level, with a possibility of reaching 120,000. The heightened activity can signal strong buying interest, which might accelerate the upward momentum. Analyzing the current market context, bouncing above this resistance level could confirm a bullish trend continuation, especially if backed by higher trading volumes. It is crucial to monitor volume levels around this key price point to validate a breakout. From my perspective, traders should watch for a decisive move above 118,720 with significant volume confirmation. Such a breakout can create an optimistic outlook for the near-term price rally, but caution is advised if volume remains weak, as false breakouts are possible.