Bitcoin is currently forming a Falling Wedge pattern on the 4-hour chart, indicating a potential bullish breakout. Analysts suggest that a confirmed breakout above the key resistance level of $105,000 could propel Bitcoin towards $120,000. On-chain data reveals a total value locked (TVL) of $7.57 billion and robust network activity, which supports this optimistic technical outlook. Experts anticipate that Bitcoin will remain within the wedge for a few more days before attempting a breakout.