Analyst: Bitcoin may reach a historic high next week, with a target price of $116,000

ChainCatcher news, according to Cointelegraph, traders remain bullish on the overall market, expecting Bitcoin to challenge its historical high again and re-enter a price exploration phase.

Analyst Alan stated, "The next target price for Bitcoin at the beginning of this week is $116,000. Bitcoin is in a converging triangle pattern, with volume continuously decreasing, which is a common signal that a breakout is imminent."

Trader Daan Crypto Trades mentioned, "With the recent rise, we have consistently seen a premium on Coinbase's spot prices. This is a good sign, indicating solid demand."