$BTC has not yet reached a new high, there’s basically nothing to trade. The short positions taken before the new high have hardly gained any points. The prolonged consolidation is just to break the new high.
Currently, the performance of the US stock market does not support Bitcoin truly breaking above 110,000. The daily line of the US stock market has not moved out, and Bitcoin’s new high should come before the US stocks decline. It’s hard to guess where it might pull back to afterwards.
