Bitcoin Breaks Out of Downtrend, Eyes $120K

Bitcoin has surpassed a downtrend channel and is now targeting $120K. Analysts cite strong momentum, healthy holder profit levels, and bullish sentiment as key drivers behind this surge. Despite a 11% correction, the majority of Bitcoin holders remain in profit (91%). The recent dip likely represents a reset rather than a deep bear market. Support near $108K and resistance at $115K suggest Bitcoin is consolidating before potentially climbing higher.