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/TradingViewBTC 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