In your chart, BTCUSDT has made a good recovery above 120,165 and is currently trading at 120,488, but the last candle is red (bearish), which is showing a slight rejection.

Short Term Analysis (2–5 minutes):

Price moving averages (yellow and pink lines) are in an uptrend, meaning momentum is upward.

However, the rejection that has just come from above indicates that there is resistance near 120,500.

If this resistance breaks, it can go further up; otherwise, a slight pullback may occur.

Summary:

120,500 break → can go up

No break → possibility of a dip to 120,400–120,350

Would you like me to provide the next 5-minute support and resistance levels for this?