If we are still in bull run, a price above $110000 will likely be the support. But will bitcoin be able to increase above the great resistance which is $120000?
A barrier at $110,000 looks like a good one, even as the resistance at $120,000 is equally good. However, what I envisaged (not from analysis, but instinct) is that, just as we witnessed around $112,000 before that level finally gave up, so we will witness with $120,000. It's going to be a rollercoaster ride around $110,000 and $120,000 for the time being before we witness an eventual breakout.
How soon is what I don't know, but it will surely be at least in weeks or months.