Technical analysis suggests Bitcoin is consolidating but likely to move upwards towards $119,000 and then $131,000, provided it holds support above $108,000-$110,000.
"From a technical standpoint, however, the picture is one of consolidation. Bitcoin has been defending the crucial support zone between 108,000 and 110,000. And as long as it holds above this level, the path of least resistance remains to the upside with technical targets near 119,000 and then 131,000."