Can Bitcoin return to $120K? Bitcoin is facing a critical test at the $104K support level. Improving on-chain metrics suggest recovery potential, with the rebound depending on the $104K support. The next key target is $120K. As of today, Bitcoin is trading around $108,450, bouncing back from the 0.618 Fibonacci retracement level at $104.7K—a zone that has historically provided strong support. This rebound could lead to gains of $112,000 and $120,000 to $123,000. However, if it fails to hold the $104K level, a pullback could occur, with the next key defense point at $100K. Therefore, the $104K to $108K range will determine Bitcoin's short-term trend. Can Bitcoin reclaim $120K in the coming weeks? If the $104K retracement level continues to act as a foundation, the path to $112K and $120K remains achievable. #BTC