Bitcoin Breakthrough Odds Climb With All-time Highs Meet $90K DIP Warning

Key points:

• Bitcoin refuses to get out of the narrow range when traders think of possible breakout directions.

• Price discovery is eagerly anticipated, but the downward forecast includes further levels to $90,000.

• BTC/USD has taken a high pattern move since the rebounding began in April.

Bitcoin (BTC) has allowed traders to speculate in the May 16 speculation that Wall Street opens, as the merger triggers bullish and bearish forecasts.

“Massive” liquidity is built around BTC prices

Data from CoIntelegraph Markets Pro and TradingView showed that BTC/USD was between $103,000 and $104,000 that day.

Although exceeding expectations, the latest U.S. macroeconomic data, printed in the form of Consumer Price Index (CPI) and the manufacturer’s price index (PPI), failed to have a strong impact on short-term price behavior, respectively.

Instead, traders are focused on the latest phase of Bitcoin’s integration, less than 10% from their new all-time highs.

“Since the April lows, $btc has been doing roughly the same thing. Move up, tightly merge, new legs,” wrote popular businessman Daan Crypto Trades in a portion of the ongoing X analysis.

“Please keep an eye on this local range and wait for the breakout to any direction, which is my advice.”

A separate post has a thick liquidity area on both sides of the price, which may provide near-term goals if BTC/USD exits its narrow range.

$ btc The clearing map shows a large cluster of $105K-$106K and a ton of $103K $103K.

This makes sense because these are the current tiny range highs/lows we have merged over the past week or so.

Recently, we have seen many similar mergers and we… pic.twitter.com/y387v1wzsc

– Daan cryptocurrency trading (@Daancrypto) May 16, 2025

“Note that long-term liquidation large clusters are closely concentrated below current prices, especially around 10280-10300? This represents a lot of liquidity,” Trading Thekingfisher continued.

“The shorts are spread higher. This imbalance allows the areas below the key areas to be viewed to be used as price magnets, or if the price drops, as a trigger point for cascading liquidation.”

Another popular trader, Crypto Caesar, suggested that the range breakout could run deeper and put Bitcoin further below $100,000.

“If the price falls and stays above the area, we can see new crazy highs,” he told X followers. He refers to the weekly moving average convergence/divergence (MACD) indicator.

“But: The rejection here could lead to a $90,000 callback.”

Flush and repeat Bitcoin breakthrough?

Like Daan Crypto’s trade, analyst Kevin Svenson is eager to see a continuation of the rebound that has stopped starting since April.

Related: Gold-based forecasts say Bitcoin reaches 220k in 2025 “reasonable”.

During the 4-hour time frame of the day, he provided the next rising BTC/USD target within the price discovery.

“So far, the measured movement inferences of each leg during this run have been very accurate,” he wrote.

“If this trend continues, if this model holds, the next target is $115,000.”

Previously, Cointelegraph reported various BTC price forecasts that are now in effect, and the commentators next liked the rise very much.

According to former Bitmex CEO Arthur Hayes, $1 million per coin may become a reality in three years or faster after the shrinkage.

This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.