I don't know... since yesterday I've witnessed sellers cashing out slowly.
Every time there's enough bids (~ 30 btc) upward of a round number... *sell*.
Every time there's enough bids (~ 30 btc) upward of a round number... *sell*.
I saw that, too, but those small sales stopped when the price hit $115. I was also seeing the same kind of behavior when the price was below $110, with small buys happening regularly until the price was back up to $110.
I think there's a sly market maker at work gently enforcing their desired exchange rate. All the bears hoping for <$110, and the bulls hoping for >$120, are likely to be disappointed unless their limit orders can be hit by big movements. Prepare for a boring time the next few weeks.