Bitcoin is about to leave its narrow range behind in the coming days — potentially even resuming all-time highs and moving toward price discovery after several months. Key points: Bitcoin is convincing investors that an upward breakout is near, with all-time highs in sight. A target requires $116,000 next week, firmly pushing the BTC/USD pair out of its narrow range. A quick drop before continuing to rise is among the options for BTC's price action in the new week. Bitcoin reduced volatility to a minimum at the weekly close on May 18, while traders bet on a new breakout. BTC price produces classic breakout signal. Data from Cointelegraph Markets Pro and TradingView showed that the area around $103,000 acted as a price magnet for BTC throughout the weekend. Now floating little up or down, BTC/USD was poised for a liquidity hunt, with $105,000 and $103,000 as targets, as confirmed by data from the CoinGlass monitoring feature. Commenting on the current market structure, traders remained optimistic, anticipating a reckoning with all-time highs and the return of price discovery. "Bitcoin target at the beginning of next week: $116,000," summarized popular trader Alan in his latest short-term forecast on X. An attached chart highlighted the lack of volatility that characterized BTC/USD last week. "$BTC is forming within this converging triangle with decreasing volume, which is a common indicator of potential for a breakout," Alan added. Fellow trader Mikybull Crypto described the market structure as an "intraday diamond pattern breakout." "With the recent rise, we have seen a consistent spot premium on Coinbase."