Bitcoin is poised for a potential breakout, with traders anticipating a return to all-time highs and a target of $116,000 next week. The BTC/USD market has shown reduced volatility, maintaining a narrow range, with key price levels around $103,000 and $105,000 acting as focal points. A well-known trader predicted an early week target of $116,000, indicating that BTC is forming a converging triangle pattern that could signal a breakout. Another trader observed strong demand, evidenced by a consistent Coinbase spot premium, affirming bullish sentiments despite some concerns about upcoming resistance levels. Some analysts remain cautious, suggesting a possible temporary pullback before upward momentum resumes, particularly against traditional stocks. Overall, traders are cautiously optimistic about Bitcoin's trajectory as it approaches significant resistance levels following a recovery from earlier lows of $75,000 in April.

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