BTC price to $116K next? Bitcoin trader sees ‘early week’ all-time high

Key points:

Bitcoin is convincing traders that an upside breakout is around the corner, with all-time highs in sight.

One target demands $116,000 next week, moving BTC/USD firmly out of its narrow range.

A quick dip before continuing higher is among the options for BTC price action into the new week.

Bitcoin (BTC) reduced volatility to a minimum into the May 18 weekly close as traders bet on a fresh breakout.

BTC/USD 4-hour chart. Source: Cointelegraph/TradingView

BTC price brews classic breakout signal

Data from Cointelegraph Markets Pro and TradingView showed the area around $103,000 acting as a BTC price magnet throughout the weekend.

Now barely fluctuating up or down, BTC/USD was primed for a liquidity grab, with $105,000 and $103,000 both targets, data from monitoring resource CoinGlass confirmed.

BTC liquidation heatmap. Source: CoinGlass

Commenting on the current market structure, traders remained broadly bullish, anticipating a rematch with all-time highs and the return of price discovery.

“Next early week Bitcoin target: $116,000,” popular trader Alan summarized in his latest short-term prediction on X.

An accompanying chart underscored the lack of volatility characterizing BTC/USD over the past week.

“$BTC is brewing within this converging triangle with decreasing volume, which is a common indicator of potential for a Breakout,” Alan added.

BTC/USD 4-hour chart. Source: Trader Tardigrade/X

Fellow trader Mikybull Crypto described the market structure as an “intraday diamond pattern breakout.”

$BTC INTRADAY DIAMOND PATTERN BREAKOUT pic.twitter.com/gMGMub7nTt

— Mikybull 🐂Crypto (@MikybullCrypto) May 18, 2025

“With the recent run up we’ve seen a consistent Coinbase spot premium. This is good and show there’s solid demand,” trader Daan Crypto Trades continued, referring to promising US buyer support fueling Bitcoin’s return to six figures.