Sure, greed and fear impact all of us.  My greed and fear with my limited number of BTC does not affect much of anything at all, up or down. But my point is that someone who is newly mining with an ASIC, stocking up on 500+ BTC in a short period of time, or several of these people at once, could find the $120 price too attractive and choose to sell.  This could create some sort of wall over the next few months. 

On the flip side...  I was surprised that yesterday's drop did not go below 103.  Yet another wall of sorts in resistance.