Bitcoin: will $105K prevail or not?Bitcoin / U.S. dollarBITSTAMP:BTCUSDXBTFXAfter a spike in price on May 22-23rd, the price of BTC continued with a consolidation, moving the price toward the lower grounds. Fridays stronger than expected US jobs data returned the optimism among market participants, bringing back the price of BTC toward the levels around the $105K, where BTC is ending this week. The lowest weekly level reached was $100.754 on one occasion. The RSI was pushed at levels below the 50 level, around 45, but is still ending the week at 52. This is an indication that market participants are slowly starting to eye the oversold market side. The MA 50 continues to strongly diverge from MA200, without an indication that the cross might come anytime soon. Since the peak level was reached as of the end of May, the BTC was traded with lower highs and lower lows for the rest of the period. This is a clear indication that some short consolidation is ahead. In the technical analysis this formation is imposing the question, where this trend ends? One possibility is that BTC will again test the $100K, which was the lowest level reached during the previous week, on a short occasion. This level could also be treated as a psychological level for investors. The second option would be a break of the $105K level, which is currently tested, to the upside, where BTC will seek higher grounds, probably around $108K. Both scenarios currently have equal probabilities. Which one BTC will choose, it will be clearer at the start of the week ahead. Until then, the $105K is the level to watch closely, will it prevail or not?