Bitcoin remained range-bound on May 16 as traders speculated on the potential breakout direction. Analysts are eagerly anticipating price discovery, with some downside forecasts suggesting a dip towards $90,000. BTC/USD has exhibited predictable patterns since its recovery in April. Data from Cointelegraph Markets Pro and TradingView indicated Bitcoin fluctuating between $103,000 and $104,000. Despite strong US economic data, Bitcoin’s short-term price behavior remained unaffected. Traders focused on Bitcoin’s consolidation phase near all-time highs. Analysts like Daan Crypto Trades highlighted the importance of monitoring Bitcoin’s local range for a breakout. Liquidity clusters were observed on both sides of the price, offering potential targets post-breakout. Traders like TheKingfisher emphasized the significance of liquidity pools and potential price movements based on them. Crypto Caesar warned of a possible range breakout leading Bitcoin below $100,000 if rejected at current levels. Analyst Kevin Svenson projected a bullish target of $115,000 based on historical price movements. Speculations suggest a potential rise to $1 million per coin in the coming years. Former BitMEX CEO Arthur Hayes even predicts this milestone within three years. This article serves as informative content and does not offer investment advice. Readers are advised to conduct their own research before making any financial decisions.