Bitcoin is exhibiting a bullish uptrend with recent higher highs and lows, supported by positive momentum indicators and confluence at key Fibonacci retracement levels in the context of rising volatility, indicating strong directional momentum upward from the 120k entry zone. Recommend entering or holding the long position with aggressive risk management, targeting initial profits at 122k while maintaining a tight stop below 119k to capitalize on the uptrend with a favorable 1:2 risk-reward ratio, given the high conviction in continued bullish structure.