The post Bitcoin Price Prediction Today: Bulls Target $116K This Weekend appeared first on Coinpedia Fintech News
Bitcoin has confirmed a breakout above $111,000, showing strength after several weeks of sideways movement. The move comes as inflation data in the United States came in slightly better than expected, lifting both stocks and digital assets.
Inflation Eases, Stocks Push Higher
The latest consumer price index report showed a 3 percent annual rise, slightly below the expected 3.1 percent. That small difference gave a mild boost to markets, with the S&P 500 moving closer to record highs.
Bitcoin often moves in line with major stock indexes, and the broader uptrend in equities continues to support a positive tone across digital assets. Historically, Bitcoin has not entered a deep downturn while U.S. stocks have been reaching new highs.
Momentum Builds but Resistance Ahead
Bitcoin remains in a larger upward trend on the weekly chart. The super trend indicator continues to show green, pointing to an active bull phase. Even so, a loss of momentum is visible, which could keep prices moving sideways for several weeks.
The latest daily candle closed at around $111,000, above the previous ceiling near $110,000. Holding above this level is now important. If the price slips below, the recent breakout could fade. If it stays above, the next area to watch sits between $114,000 and $116,000, where earlier selling took place.
Market Liquidity Maps Out Next Steps
Heat map data shows a buildup of activity above the current price, mainly around $114,000 and $116,000. These zones may pull the market higher as positions unwind. Still, movement could slow within this range, as past reactions often reappear near the same levels.
Short bursts upward or small pullbacks are both likely during this phase. Overall, this type of movement signals a market cooling off before setting a new direction.
Outlook for the Weeks Ahead
The broader picture remains favorable. Inflation is steady, equity markets are firm, and digital assets continue to attract fresh interest.
Bitcoin could stay rangebound between $110,000 and $116,000 before building strength for a larger advance. A clean move above $116,000 would open room for further gains, while slipping under $110,000 would likely bring another short-term correction.
Source: https://coinpedia.org/news/bitcoin-price-prediction-today-bulls-target-116k-this-weekend/
