Bitcoin hovers above $105K as traders eye $116K breakout early next week. All-time high in sight as volatility tightens.
Market Highlights
- BTC Price: $105,282
- Target: $116,000
- Support Zones: $103,000, $100,000
- Resistance: $109,588 (previous ATH)
Bitcoin Builds Pressure Near All-Time High
Bitcoin’s price continues to consolidate just above the $103K–$105K range, showing signs of a brewing classic breakout. Analysts are confident a new all-time high (ATH) could be imminent — possibly as early as next week.
“Next early week Bitcoin target: $116,000,” said trader Alan on X, pointing to a converging triangle pattern on the charts.
The structure resembles a typical low-volume triangle, often a precursor to explosive moves. With reduced weekend volatility and significant liquidity at $105K, Bitcoin appears poised for a decisive upward breakout.
Coinbase Premium, Spot Demand Fuel Optimism
- Traders like Daan Crypto Trades noted strong Coinbase spot premium, signaling steady U.S. buyer interest.
- Technical formations, like intraday diamond breakouts, further add weight to bullish sentiment.
- Bitcoin is still holding above the 20-day EMA ($99,416), a key support zone.
If BTC breaks and closes above $105K–$109K, it could rapidly accelerate toward $116K, entering price discovery after months of consolidation.
⚠ Bearish Scenarios Still on Watch
Despite bullish momentum, not all traders are ready to call for liftoff just yet:
“Bitcoin hasn’t broken resistance — a pullback to $90K is still possible,” warned CrypNuevo.
Other analysts note Bitcoin has yet to outperform key stock indices or clear final resistance on the BTC/SPX chart, which may limit upside if macro markets cool off.
What If Bitcoin Pulls Back?
Should BTC fail to hold above $100K:
- Support 1: 20-day EMA at ~$99K
- Support 2: 50-day SMA at ~$90.6K
- Worst-case dip: $75,000 (April low)
BTC Price Prediction: What’s Next?
📍 Short-Term Target (Next Week): $116,000
📍 Medium-Term Target: $130,000
📍 Key Resistance: $109,588 (previous ATH)
As momentum builds, and with whales accumulating again, a new ATH in May seems more likely than not — provided BTC can hold key levels and confirm a breakout with volume.
Final Thought
Bitcoin is once again at the edge of price discovery. Whether you’re a seasoned trader or long-term holder, this could be the most critical week of Q2.
