Bitcoin Eyes $116K as Traders Brace for Early-Week Breakout
BTC Price Momentum Builds Amid Low Volatility and Growing Demand
LONDON — Bitcoin is once again making waves, with analysts predicting a potential early-week breakout that could push BTC to a new all-time high of $116,000. The cryptocurrency has been stuck in a narrow trading range, but market signals suggest that may be about to change.
According to data from Cointelegraph Markets Pro and TradingView, Bitcoin hovered around $103,000 over the weekend, consolidating into an increasingly narrow band of price action. Traders believe the current structure is preparing for a move — and this time, it could be decisively upward.
Technical Patterns Signal Impending Breakout
“Next early week Bitcoin target: $116,000,” said popular trader Alan, pointing to a converging triangle pattern forming with decreasing volume—a classic sign of an imminent breakout. His chart shows how BTC/USD has maintained an unusually low level of volatility, which often precedes sharp price moves.
Fellow analyst Mikybull Crypto identified an “intraday diamond pattern breakout,” while Daan Crypto Trades observed a consistent Coinbase spot premium, reflecting strong U.S. demand and buying pressure behind the scenes.
Resistance Levels Still Hold, but Bulls Remain Confident
Despite the optimism, resistance remains a key concern. Trader CrypNuevo noted that Bitcoin hasn’t yet cleared major resistance, which leaves room for a brief pullback before a possible rally resumes. Similarly, Daan Crypto Trades pointed out that BTC has underperformed against traditional equities, especially after the recent U.S.-China trade deal, a factor that may be weighing on Bitcoin’s relative strength.
Even so, bullish sentiment remains firm. Bitcoin’s recent bounce from April’s multimonth low of $75,000 to its current range is seen as a sign of resilience. A sweep toward $90,000 remains on the radar, but traders view this as a possible launchpad rather than a setback.
