Bitcoin Price Analysis: BTC Bullish Momentum Returns After Recent Correction, Is $140K Next?

Bitcoin is trading around $119,000 after recently reaching a new all-time high above $123,000. The price broke out of a bull flag formation, indicating a strong upward trend. Analysis suggests a potential target of $140,000 based on the current ascending channel. Support levels are identified around $110,000. The 4-hour chart shows Bitcoin testing resistance around $118,000-$119,000, with potential buying opportunities between $111,000 and $114,000 if the price drops. Retail trading activity, while increased, has not reached levels seen in previous market peaks, suggesting potential for further price increases.