At the pace Bitcoin is going, I agree that $120k is not feasible this week rather $110k is a better choice. Bitcoin have been growing by less than 0.5% daily for few days now, hence it will likely not reach $120k before the end of this week if it continues at that growth rate unless something changes which is likely possible. Maybe someone will call Michael Saylor to make another huge purchase that will push the market to jump that high before the week ends. In other words, it will require a strong fundamental news release to realise such a massive price increase before the end of the week.
Personally, I'm seeing Bitcoin reaching $120k from January, the build up to the inauguration. I don't want to sound selfish buy I want it that way for personal reasons which is not unconnected to getting more coins within the current price regime using my weekly DCA.
If you notice, Michael Saylor buying bitcoin doesn't seem to have any significant impact on bitcoin price in the short term. Or even the bitcoin buying power from ETFs is larger than Saylor but it doesn't seem to impact bitcoin price in the short term. So I think we need bigger and more groundbreaking news than just waiting for news like Saylor or ETFs buying bitcoin.
But today and tomorrow we will have news of a Fed rate cut, and most forecasts are that the Fed will continue to cut by 0.25% despite signs of inflation picking up again. I think this could push bitcoin to $110k but $120k is very unlikely and would require a bigger catalyst.