Bitcoin (BTC) was trading around $88,000 as the market approached the weekly close, with traders holding sharply divergent views on where prices are headed next. Some analysts warn of a potentially sharp drop toward the $70,000 region, while others see signs of an imminent rebound and even fresh all-time highs.

Mixed market expectations

Data from Cointelegraph Markets and TradingView showed Bitcoin moving in a relatively narrow range late in the week, struggling to break above $90,000. Many in the trading community believe a breakout could come soon, but there‘s no consensus on direction.

Crypto analyst Ted Pillows wrote that a relief rally could push BTC toward the $98,000–$100,000 area before any further downside, though technical indicators such as the 100-week exponential moving average (EMA) crossing below the simple moving average (SMA) could herald larger declines if selling momentum accelerates.

Bullish sentiment remains

Some traders, including Captain Faibik, argue that the recent correction is complete and expect a breakout within days. Elliott Wave-based forecasts from other accounts also project a possible path to new all-time highs above $150,000, assuming continued buying pressure.

Downside risk toward $70K

On the bearish side, on-chain analytics platform CryptoQuant has highlighted Bitcoin‘s “fragile” position below $90,000 and flagged increased BTC inflows to Binance as a factor that could add downside pressure. Analysts suggest that a drop toward a demand zone between $70,000 and $72,000 could be next if technical support continues to slip.

In summary:

Bullish view: Breakout toward $98,000–$100,000, even higher if momentum returns.

Bearish view: Technical weakness and exchange inflows could push BTC back toward $70,000.

Outlook: Mixed sentiment keeps volatility high near the weekly close.

Disclaimer: This article is not financial advice. Always do your own research before making investment decisions.