Analyst: Bitcoin May Hit All-Time High Next Week, Target Price at $116,000

BlockBeats News, May 18th, according to Cointelegraph's report, traders remain bullish on the overall market, expecting Bitcoin to once again challenge its all-time high and re-enter a price discovery phase.

Analyst Alan stated, "Bitcoin's next target price at the beginning of this week is $116,000. Bitcoin is currently in a symmetrical triangle pattern, with decreasing volume, which is a common signal of an impending breakout."

Trader Daan Crypto Trades said, "With the recent uptrend, we have consistently seen a Coinbase spot price premium. This is a positive sign, indicating strong demand."