I don't think $120k is that much importance, people keep coming up with any number and any resistance and many times the market does something else entirely ignoring all these things. We could shoot up to $130k by tomorrow completely dismissing $120k, nobody really knows. That is the most correct view I believe.
Yep it's only 10% gain, people are expecting more if they invest in Bitcoin. $150k is a good number because it increase 50% than the previous milestone ($100K), that's why if Bitcoin cross to $150K, we will see many articles and people are talking about Bitcoin.
$150K is make sense I think, not too big and not impossible to achieve in the current bull run.