Bitcoin Eyes $107K as Analysts Predict Breakout

Bitcoin's price trajectory has been a subject of intense scrutiny among analysts, with one prominent crypto analyst, RLinda, setting an ambitious roadmap for the cryptocurrency. According to RLinda, Bitcoin (BTC) could potentially reach $107,000 in the coming weeks, provided it breaks out of its current consolidation phase.

Bitcoin has been navigating a localized correction, with regulatory uncertainty and macroeconomic pressures weighing on its price action. Despite multiple attempts to break higher, BTC has struggled to gain momentum, keeping price action range-bound. However, a decisive breakout from this consolidation could reignite bullish sentiment and propel Bitcoin toward its new target.

Technically, Bitcoin is consolidating within a tight range between $94,800 and $98,400. A breakout from this zone is likely to determine its next major move. A decisive push above $98,400 could shift market sentiment, potentially driving BTC toward $100,200, $102,700, and ultimately $107,000. However, the broader technical outlook suggests that Bitcoin could first test liquidity at $91,000 and $90,000 before resuming an upward trajectory.

On the downside, $94,800 remains a critical support level. A failure to hold this range could accelerate a decline toward $91,300 and further down to $90,000. Should buyers step in at these lower levels, Bitcoin could stage a bullish reversal, setting the stage for a rally toward new highs.

CryptoQuant CEO Ki Young Ju also remains optimistic about Bitcoin's long-term trajectory, highlighting that the bull cycle remains intact despite short-term consolidation. According to Young Ju, Bitcoin's price range is expected to remain broad, but its overall trend remains upward. Even if Bitcoin experiences a 30% correction from an all-time high to $77,000, a scenario observed in past cycles would not mark the start of a bear market. Instead, such a correction would represent a normal retracement within a larger bullish phase, keeping BTC well above its previous cycle's all-time high.

At press time, Bitcoin is trading at $96,339, posting a 0.7%