Commenting on the current market structure, traders maintained a broadly optimistic view, anticipating a new test of historical highs and the return of price discovery.
"Next target for Bitcoin at the beginning of the week: US$ 116.000," summarized trader Alan in his latest short-term forecast on X.
A chart accompanying the publication highlighted the absence of volatility that marked the behavior of the BTC/USD pair over the past week.
"BTC is consolidating within this convergence triangle with decreasing volume, which is a common sign of potential for a breakout," added Alan.
